Essays questions:

QUESTION 6: CONTEMPORARY ECONOMIC ISSUES 40 MARKS - 40 MINUTES Discuss the effects of tourism. (26 marks) Evaluate the success of indigenous knowledge systems (IKS) in promoting tourism in South Africa. (10 marks) [40] TOTAL SECTION C: 40 GRAND TOTAL: 150QUESTION 5: MICROECONOMICS 40 MARKS - 40 MINUTES Discuss, with the aid of graphs, the consequences of market failure under the following headings: - Producer subsidies (8 marks) Maximum prices (8 marks) Minimum wages (10 marks) (26 marks) With reference to the graph below, analyse how a negative externality can result in the misallocation of resources. Price MSC MPC 50 40 MSB 0 100 150 Quantity