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ECONOMICS

EXAMINATION GUIDELINES

GRADE 12
2021

These guidelines consist of 34 pages
...


INTRODUCTION

3

2
...
1
2
...
3
2
...
5
2
...


CONTENT

14

4
...


3
Examination Guidelines

DBE/2021

INTRODUCTION

The Curriculum and Assessment Policy Statement (CAPS) for Economics outlines the nature and
purpose of the subject Economics
...

The purpose of these Examination Guidelines is to:



Provide clarity on the depth and scope of the content to be taught and assessed in the
Grade 12 National Senior Certificate (NSC) Examination in Economics
...


This document deals with the final Grade 12 external examinations
...

These Examination Guidelines should be read in conjunction with:




The National Curriculum Statement (NCS) Curriculum and Assessment Policy Statement
(CAPS): Economics
The National Protocol of Assessment: An addendum to the policy document, the National
Senior Certificate: A qualification at Level 4 on the National Qualifications Framework
(NQF), regarding the National Protocol for Assessment (Grades R–12)
The national policy pertaining to the programme and promotion requirements of the
National Curriculum Statement, Grades R–12

NOTE: All topics where 'discuss in detail/examine in detail/compare
and contrast in detail' appear, should be regarded as essay
topics for the next three-year cycle
...


ASSESSMENT IN GRADE 12

2
...
12
PAPER 1

PAPER 2

150 MARKS
–
2 HOURS
150 MARKS
–
2 HOURS
MAIN TOPIC:
MAIN TOPIC:
MACROECONOMICS
MICROECONOMICS
SUBTOPICS:
SUBTOPICS:
 Circular flow
 Perfect markets
 Business cycles
 Imperfect markets
 Public sector
 Market failures
 Foreign exchange markets
MAIN TOPIC:
MAIN TOPIC:
ECONOMIC PURSUITS
CONTEMPORARY ECONOMIC ISSUES
SUBTOPICS:
SUBTOPICS:
 *Protectionism and free trade
 Inflation
 Growth and development
 Tourism
 Industrial development policies
 Environmental sustainability
 Economic and social performance
indicators
* Note that Protectionism and Free Trade has been moved from Macroeconomics to
Economic Pursuits
...
2

Details of question papers

 Each paper carries 150 MARKS
...

 Each paper comprises SIX QUESTIONS divided into three sections
...

SECTION B: Consists of THREE questions: QUESTIONS 2–4 of which the candidate
must choose only TWO
SECTION C: Consists of TWO questions: QUESTIONS 5–6 of which the candidate
must choose only ONE
 The above papers must NOT be written on the same day
...


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Economics

5
Examination Guidelines

SECTION A (COMPULSORY)

DBE/2021

TOTAL: 30

QUESTION 1
1
...
2

1
...


Although the questions are regarded as lower order, they may be classified as EASY (e
...

open economy), MODERATE (e
...
real flow) or DIFFICULT (e
...
autonomous consumption)
...

(50%/50%))
2
...
1
...
1
...
2–2
...
4

2
...

(2 x 1)
Middle order (1 ITEM), e
...
How, why and what (an application type of
question)
...
g
...

(10 x 2)
 Items in the data response questions must be 'scaffolded' from easy to difficult:
2 marks easy, 4 marks moderate and 4 marks difficult
 The answers to the first 2 questions (1 mark each) may appear in the data, but
will be one of application
 Data response questions give a context on what aspects to be assessed, and
answers would not necessary appear in the data
ONE single question (middle order), e
...
explain, discuss, distinguish or differentiate
between, draw a correctly labelled graph/draw a correctly labelled graph and
explain//use the given graph and explain
...
g
...

Higher order questions are grounded in the content
...
Content (covered by discuss/examine/describe/
analyse/explain/evaluate/compare/assess/justify/construct/calculate)
can
be
assessed as higher-order questions
...

With regard to what, how and why questions, learners must be guided by the mark
allocation when answering the question
...
g
...

Responses must give effect to the contextual demands of the question!

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(2)
(2)

(20)

(8)
(8)

[40]

Economics

6
Examination Guidelines

DBE/2021

SECTION C (ANSWER ONE QUESTION IN THIS SECTION

TOTAL: 40

QUESTIONS 5–6 (TWO ESSAY QUESTIONS) ONE question per MAIN TOPIC
MARK
ALLOCATION

STRUCTURE OF ESSAY
Introduction
The introduction is a lower-order response
...


Do not include any part of the question in your introduction
...


Avoid saying in the introduction what you are going to discuss in the body
...
2

Max
...
3

Max
...
2

40

Cognitive-level grid
SECTION A
Multiple
choice

Matching
Items A
and B

Give
the
term

Lower

Lower

Lower

Lower

Macroeconomics

4x2 = 8

4x1 = 4

Economic Pursuits

4x2 = 8

4x1 = 4

3x1 =
3
3x1 =
3

2x1 =
2
2x1 =
2
2x1 =
2

MAIN TOPICS

PAPER
1

Macro and
Pursuits
TOTAL

Microeconomics
PAPER
2

Contemporary
Economics
Micro and
Contemporary
TOTAL

16

8

4x2 = 8

4x1 = 4

4x2 = 8

4x1 = 4

16

8

Short items

6

4

3x1 =
3
3x1 =
3

2x1 =
2
2x1 =
2
2x1 =
2

6

4

Data
response

SECTION C
Single Questions

Essay
Questions

Middle

Middle

Middle

Higher

Lower

Higher

1x2 = 2

2x10 = 20

8

8

10

30

1x2 = 2

2x10 = 20

8

8

10

30

1x2 = 2

2x10 = 20

8

8

4

40

16

16

10

30

1x2 = 2

2x10 = 20

8

8

10

30

1x2 = 2

2x10 = 20

8

8

10

30

1x2 = 2

2x10 = 20

8

8

4

40

16

16

10

30

COGNITIVE LEVELS
Lower Order (Levels 1 and 2)
Middle Order(Levels 3 and 4)
Higher Order(Levels 5 and 6)

PAPER 1
AND
PAPER 2

NOTE:

SECTION B

MARKS
44
60
46

%
29,3
40,0
30,7

Cognitive-level deviations not to exceed 2,67%
...
4

7
Examination Guidelines

DBE/2021

A guideline to marking

Mark allocation depends on the cognitive level of the question, as follows:
SECTION A
Multiple choice items:

2 marks per item (8 x 2) 16

E
...
Oligopolies that collude in a formal manner are called …
A
...
✓✓
(Items from this section are easy/moderate lower-order questions, and requires only recall the candidate
must only identify a particular economic concept from a description given )
Matching items (Column A and B):

1 mark per item

(8 x 1) (8)

E
...
Inflation
Sustained increase in the general price level ✓
(Items from this section are easy/moderate lower-order questions, and requires only recall The candidate
must match a particular economic item in Column A with a description given in Column B)
Give one term for definition given:

1 mark per item

(6 x 1) (6)

E
...
The system of processing waste material into new products
...
The candidate must
be able to recall a particular economic concept from a given definition)
NOTE: In these items the answers are not provided
...
g
...

Externalities✓
Missing markets ✓
Imperfect competition ✓
(This is an easy lower-order question and requires recall
...
)
What? Why? How? and Show

2 marks for a correct answer (1 x 2) (2)

E
...
What effect will a weak currency have on exports?
It will lead to an increase in exports
...
It is therefore expected
that the candidate shall provide the correct reasoning/understanding of the particular concept or fact)
TWO data response questions

2 x 10

(20)

Items on a : Cartoon, Extract, Graph, Table, Pictures, or a mix
(This is an easy to difficult middle-order question and requires insight and understanding of the particular
topic) Questions range from easy to difficult
...
g
...
2
...
2
...

(1)

(2)

2
...
3

Briefly describe the term monopoly
...
2
...
2
...
Show ALL calculations
...
Listing of examples will only count ONE mark
...
If facts are only listed, a maximum of
FOUR marks will be allocated
...

Candidates must be able to give their own opinion and then substantiate / demonstrate arguments against /
in favour of or to recommend solutions on certain issues
...
)
Candidates must be able to:
● give their own opinion and then substantiate / demonstrate arguments against or in favour
● evaluate and critique certain actions/values… in the economy
● analyse certain aspects … in the economy by unpacking and critique
● use economic models e
...
graph and diagram to explain certain aspects of economics

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Economics

9
Examination Guidelines

DBE/2021

SECTION C
Essay question

(40)

Introduction

(2)

(The introduction is a moderate to difficult lower-order response, A candidate can use an accepted
definition or an appropriate explanation of the topic under discussion as an introduction)
Allocation of marks: TWO marks will be allocated if a candidate can provide a correct definition or an
appropriate explanation of the topic under discussion
...
E
...
The listing of
headings can be regarded as a lower-order response)
Example: If the question reads;
'Discuss how fiscal policy can be used to smooth out business cycles'
...

If a learner only discussed fiscal policy without clearly showing the relationship in smoothing of cycles,
the learner cannot obtain maximum marks
...

Sometimes the information does not relate to the question asked
...
In terms of the examination guidelines, more than one question can be asked
on a particular topic
...


Allocation of marks:
●
●

ONE mark will be given for a fact that is not written in context / listed / not fully explained
...


E
...
If the candidate refers to price leadership in his response, and the candidate writes:
'price leader', (a single concept without any further detail) the candidate will only get ONE mark
...

Body: Additional part

(10)

(This is a moderate to difficult higher-order question and requires deeper insight and understanding of the
particular topic
...
g
...

Sometimes the information does not relate to the question asked
...
In terms of the exam guideline more than one question can be asked on the
topic
...

ONE mark will be given to a fact that is not in context / not fully explained
...


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Economics

10
Examination Guidelines

DBE/2021

Conclusion

(2)

(The conclusion is a moderate to difficult lower-order response, the candidate can use any appropriate
final/finishing remark on the topic under discussion)
Allocation of marks: TWO marks will be given if a candidate can provide an appropriate finishing/final
remark on the topic under discussion)
NOTE: To develop critical thinking within the subject economics teachers must comply with the
prescribed way of marking, it should start at Gr
...


2
...

●
Develop new unique structures, systems, models, approaches, ideas and creative thinking
...

●
Develop, plan, create, organise, revise, formulate, propose, establish, integrate and rearrange
...

●
Assess effectiveness of whole concepts, in relation to values, outputs, efficacy, viability; critical
thinking, strategic comparison and review; judgement relating to external criteria
●
Review strategic options or plans in terms of efficacy, return on investment or costeffectiveness, practicability; assess sustainability; perform a SWOT analysis in relation to
alternatives; produce a financial justification for a proposition or venture, calculate the effects
of a plan or strategy; perform a detailed and cost benefit analysis with recommendations and
justifications
LEVEL 4: ANALYSES

MIDDLE ORDER

Can the learner distinguish between the different parts?
●
Collect process and analyse information from various sources to evaluate problems and
issues
...
g
...
g
...

●
Put theory into practice , generate solutions for economic issues
●
Apply knowledge to actual situations
LEVEL 2: COMPREHENSION / UNDERSTANDING
LOWER ORDER

Can the learners explain ideas or concepts?
●
Understand meaning, re-state data in one's own words, explain or interpret meaning from a
given scenario or statement, suggest treatment, reaction or solution to given problem, create
examples or metaphors
●
Demonstrate an understanding of the fact
LEVEL 1: KNOWLEDGE/REMEMBERING
Can the learner recall, remember or recognize the information, ideas and principles in the
approximate form in which they were learnt?
●
Demonstrate knowledge (remembering) of the specified content (e
...
key words or concepts or
terminologies)
...


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Economics

2
...
It encourages learners
to think beyond literal questions
...
Issues from the real world can be used to either
support or refute a point of view
...
It also requires one to relate their
thinking to other situations and to their own background knowledge
...
There
is teaching for understanding, decision making, problem solving, and connecting a part to a
whole, detail to concept, and concept to concept
...
Each of these processes requires some form of critical
thinking
...
They are found in classrooms where active
learning is an essential component
...

o
Ask for deep thinking
...




Types of higher-order-thinking questions: (What? How? Why?)
Analysis: These questions ask learners to dissect key information and analyse essential
concepts, themes and processes
...

For example:
o
Provide a better solution for …?
o
What are the consequences of …?
o
What are the pros and cons of …?
o
What are the alternatives for …?
o
How effective are…?
Creativity/Synthesis: These questions require learners to formulate a holistic summary of
key ideas; provide an integrated, cohesive, sustained response, make inferences;
reformulate, reconstruct or create scenarios
...

For example:
o
Based on these facts, what predictions would you make?
o
Propose a solution to this problem
...
The learner does NOT have to present answers exactly as
in the marking guideline (except objective-type questions)
...
) the essence of what the learners say must be
covered by the marking guideline
...
g
...

 If a learner gives an example only, then 1 mark may be awarded
...

 In an 8-mark question the maximum marks a learner can earn for examples and
explanations should be 4 marks
...
In higher-order short questions, a maximum of
2 marks (25%) will be allocated for merely listing of facts and examples
...
Sometimes the information does not relate to the question asked
...
In terms of the examination guidelines more than
one question can be asked on a particular topic
...

 Sometimes textbooks have information under a heading that seems abstract when
compared to the exam requirement
...


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Economics

3
...
1 The open-economy
circular-flow model

 Briefly describe the concepts related to the circular flow
...

 Discuss the 4 participants and inter relationships between them:
- Household, business, state and foreign sector
- Real flows and money flows
- Show the relationship of the financial sector in the circular flow

-

Equations

- Markets

1
...

 Explain concepts autonomous consumption and marginal propensity to
consume (mpc)
 Discuss in detail the markets within the FOUR-SECTOR model:
- Factor markets: (labour, resource, capital)
- Product markets: (consumer and capital goods, durable, semidurable and non-durable)
- Financial (monetary and capital)
- Foreign exchange market
- Link the operation of financial and foreign exchange markets to the
participants of the circular flow
(Focus: Relevant concepts, deducing, interpretation, analyses of aggregates
and conversions)
 Briefly describe the concepts GDP and GNP
 Discuss the THREE methods to determine GDP using data tables:
- Production GDP(P)
- Income GDP(I)
- Expenditure GDP(E)
 Analyse, interpret and derive aggregates from data tables
 Analyse the national account conversions:
- Factor cost, basic prices, market prices
- Taxes and subsidies on production
- Taxes and subsidies on products
GDP to GNP
 Explain the purpose of the System of National Accounts (SNA) as outlined
by the United Nations (UN)

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Economics

1
...
(Relate to circular flow and
examples)
...


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Economics

16
Examination Guidelines

TOPIC 2:
BUSINESS CYCLES

DBE/2021

CONTENT DETAILS FOR TEACHING, LEARNING
AND ASSESSMENT PURPOSES

Analysis and explanation of
business cycles, and how they
are used in forecasting
...
1 The composition and
features of business cycles






2
...
3 Government policy

 Explain the composition of the following policies:
- Fiscal policy
o Taxes and government expenditure
o Briefly relate to the budget
- Monetary policy
o Interest rates (repo rate)
o Open market transactions
o Cash reserve requirement
o Moral suasion

2
...

o Explain clearly how monetary and fiscal policies
(expansionary and contractionary) can be used in
smoothing out business cycles
o Relate to inflation (peak) and unemployment (trough) by
using the Phillips curve
- Explain supply-side policies and how aggregate supply can be
stimulated through:
o Reduction in costs
o Improving efficiency in inputs
o Improving efficiency in markets
 Explain the effect of demand-side and supply-side policies using a
graph (aggregate demand and aggregate supply)
...
5 Features underpinning
forecasting business
cycles

 Briefly describe the relevant concepts
 Discuss in detail the features underpinning forecasting:
- Indicators
o Leading
o Coincidence
o Lagging
o Composite
- Length of a cycle
- Amplitude
- The trend line
- Extrapolation
- Moving averages
 Use a diagram and discuss the cycle length, amplitude and the trend line as
features underpinning forecasting
...

Discuss the exogenous (monetarist) explanation
Discuss the endogenous (Keynesian) explanation
Compare both explanations
Give a broad outline of the types of business cycles (Kitchin, Jugler,
Kuznets and Kondratieff)

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Economics

TOPIC 3:
PUBLIC SECTOR

17
Examination Guidelines

DBE/2021

CONTENT DETAILS FOR TEACHING, LEARNING
AND ASSESSMENT PURPOSES

Evaluate the role of the public
sector in the economy with
special reference to its socioeconomic responsibility in the
South African context

(Focus: Composition and necessity of public sector, problems of public sector
provisioning, objectives, fiscal policy and reasons for public sector failure)

3
...
2 Problems of public sector
provisioning

 Discuss how each of the following factors contributes to poor public
sector provisioning:
- Accountability
- Efficiency
- Assessing needs
- Pricing policy
- Parastatals
- Privatisation/Nationalisation

3
...
4 Budgets

3
...

- Income distribution
- Consumption
- Price level
- Incentives/Disincentives in relation to the Laffer curve
- (Draw and interpret the Laffer curve)
- Discretion

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Economics

3
...


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Economics

19
Examination Guidelines

TOPIC 4:
FOREIGN EXCHANGE
MARKETS

DBE/2021

CONTENT DETAILS FOR TEACHING, LEARNING AND
ASSESSMENT PURPOSES

Examination of the foreign
exchange market, the
establishment of exchange
rates, and show how the
Balance of Payments Account
is affected

(Focus: Reasons for and effects of international trade, balance of payments,
foreign exchange, foreign exchange markets and the correction of
disequilibria in the foreign exchange market)

4
...
2 The Balance of Payments

 Briefly describe the concepts
 Explain the value/purpose of the BoP
 *Discuss the composition of the current BoP (which changed recently)
in terms of the different accounts
...

1
...
CAPITAL TRANSFER ACCOUNT
NET LENDING TO (+) OR BORROWING FROM (-) REST OF
THE WORLD
3
...

Unrecorded transactions
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Economics

20
Examination Guidelines

DBE/2021

4
...
4 Foreign exchange markets

 Describe the concepts (types of exchange rates, appreciation,
depreciation, devaluation, revaluation, foreign exchange control)
 Supply and demand of foreign exchange
- Factors affecting demand
- Factors affecting supply
- Exchange rate equilibrium (draw and interpret graphs)
- Changes to equilibrium (draw and interpret graphs)
- Briefly explain interventions in the market

4
...
Review cost and revenue tables and curves done in Grade 11
...
Distinguish between short and long term/run
...
Graphs can tested as a middle order 8 marker in the following
ways”
- Draw a graph only/draw a graph and explain/provide an
explanation to a given graph

5
...


5
...

 Use graphs to explain the derivation of the demand curve for the
individual business
...


5
...
Refer to 6
...


5
...
4
...
4
...

 Explain normal profit with the aid a of graph (Long run)
 Explain shutdown point using costs and revenue (FC, VC, TC, TR) and
explain graphically (AR and AVC)
Show the relationship between the industry equilibrium positions and the
individual firm’s equilibrium positions with graphs, i
...
how entry and exit
into the market influence equilibrium position from the short run to the
long run
...
5 Competition policies

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 Describe the aims/objectives of the competition policy
 Briefly describe the Competition Act, 1998 (Act 89 of 1998), as amended
 Explain the role of the Competition Commission, Competition Tribunal
and Competition Appeal Court
 Explain South Africa's anti-monopolistic policy
 Evaluate the successes/failures of the competition policy
...
1 The dynamics of
imperfect markets with
the aid of cost and
revenue curves



Explain the following in an imperfect market:
- Income/Revenue
o Revenue schedule (a review)
o Average and marginal revenue curves
- Costs
o Cost schedule (a review)
o Average and marginal cost curves

6
...
3 Oligopolies

 Examine the oligopoly in detail:
- Concept
- Characteristics
- Kinked-demand curve
 Briefly describe the concept
 Emphasise and highlight good practical examples of businesses in this
market
 Examine the characteristics of the oligopoly
 Explain non-price competition (emphasise, amongst others, advertising,
product differentiation and branding)
 Discuss collusion (relate to current examples of collusive behaviour)
 Distinguish between overt (explicit) collusion (cartels) and tacit (implicit)
collusion (price leadership)
 Broad outline of prices and production levels
 Broad outline of the rationale of the kinked demand curve
 Use the kinked demand curve and explain why oligopolists are reluctant to
compete on prices
...
4 Monopolistic
competition

 Briefly describe the concept
- Emphasise and highlight good practical examples of businesses in this
market
...
5 Compare and contrast
market structures

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Examination Guidelines

DBE/2021

 Compare and contrast any TWO types of market structures (perfect
to imperfect/imperfect to imperfect) in detail in terms of the following
...
1 The causes of market
failures



Discuss in detail how the following factors lead to the misallocation
of resources in the market:
- Externalities
- Missing markets
- Imperfect competition
- Lack of information
- Immobility of factors of production
- Imperfect distribution of income and wealth

7
...
3 Cost-benefit analysis

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Economics

25
Examination Guidelines

DBE/2021

MAIN TOPIC: ECONOMIC PURSUITS
TOPIC 8:
PROTECTIONISM AND
FREE TRADE
Discussion of protectionism
and free trade; Evaluate
South African international
trade policies and major
protocols in terms of the
following:
8
...
2 Import substitution

 Discuss import substitution:
- Definition
- Methods
- Reasons/Advantages
- Disadvantages

8
...
4 Free trade

 Explain the following arguments in favour of free trade:
- Specialisation
- Economies of scale
- Choices/Increased welfare
- Innovations/Best practice
- Improved international relations

8
...
6 An evaluation

 Briefly evaluate the following South Africa's trade policies:
- Import substitution and export promotion
- Protection and free trade
 Briefly evaluate the successes and failures of the following South
Africa's trade protocols:
- Southern African Custom Union (SACU)
- Multilateral Monetary Area (MMA)
- Southern Africa Development Community (SADC)
- African Union (AU)
- European Union (EU)
- Mercusor
- AGOA
- Japan – South Africa's Partnership Forum
- Brazil, Russia, India, China and SA (BRICS)

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Discuss in detail the arguments in favour of protectionism:
- Industrial development
- Infant industries
- Stable wage levels and high standard of living
- Increased employment
- Self-sufficiency and strategic industries
- Prevention of dumping
- Stable exchange rates and BoP
- Protection of natural resources

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Economics

26
Examination Guidelines

TOPIC 9:
ECONOMIC GROWTH AND
DEVELOPMENT
Compare South African growth
and development policies in
terms of international
benchmarks; also highlight the
North/South divide

DBE/2021

CONTENT DETAILS FOR TEACHING, LEARNING
AND ASSESSMENT PURPOSES

 Distinguish between growth and development

9
...
2 The supply-side approach

 Discuss the supply-side approach in promoting growth and
development in South Africa
- Give an overview of the supply-side approach:
o Efficiency and effectiveness of markets
o Business efficiency
o The cost of doing business

9
...
4 The North/South divide



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Compare countries in the North to those in the South with respect to
the following:
- Unequal standards of living (per capita income, life expectancy,
education)
- Challenges of globalisation (poverty, growth, trade)
- Environment (countries in the North, countries in the South)

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Economics

TOPIC 10:
REGIONAL
DEVELOPMENT

27
Examination Guidelines

DBE/2021

CONTENT DETAILS FOR TEACHING, LEARNING AND ASSESSMENT
PURPOSES

Justify South Africa's
industrial development
policies and their
suitability in terms of
international best
practice
10
...
2 Regional
development

 Outline the aims of regional development

10
...

 Discuss corridors in South Africa
 Discuss Industrial Development Zones (IDZs) in South Africa
 Discuss Special Economic Zones (SEZs) in South Africa
...
Indicate/Identify them on
a map of SA

10
...
5 Appropriateness of
South Africa's
industrial policies



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Outline the appropriateness of South Africa's industrial policies
...
6 Appropriateness of
South Africa's
regional
development policies
in terms of
benchmark criteria

10
...
8 The appropriateness
of black economic
empowerment in the
SA economy

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Examination Guidelines

DBE/2021

 Briefly discuss regional development in terms of the following benchmark
criteria
- Free market orientation
- Competitiveness
- Sustainability
- Good governance
- Provisioning of resources
- Investment of social capital
- Integration
- Partnerships
 Briefly evaluate South Africa's regional development policies in terms of the
above benchmarks
...
1 Assessing the

performance of an
economy

Briefly describe the concepts
Briefly discuss the importance of measuring the performance
of the economy

11
...
3 Social indicators



Discuss in detail the following social indicators:
- Demographic indicators
o Population growth
o Life expectancy
- Nutrition and health indicators
Nutrition
o Malnutrition
o Obesity
Health
o Child mortality
o Under 5 mortality
o Spending on health
o Access to clean water
o Access to sanitation
- Education
o Percentage public-sector spending
o Percentage enrolment in secondary schools
- Services
o Electricity
o Refuse/Garbage removal
o Water supply
o Sanitation

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Economics

30
Examination Guidelines
-

11
...
1 Inflation




Briefly describe the concept
Briefly examine the following ways to measure inflation:
- Indexes (CPI/PPI)
- Weighting (Basket of goods and services)
- Inflation rate (Calculations)

12
...
3 Causes of inflation



12
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5 The inflation problem in
South Africa




Discuss expectations and inflation
Broadly outline the inflation problem in South Africa

12
...
7 Inflation targets

 Evaluate the success of inflation targeting

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Briefly distinguish between the different characteristics of
demand-pull and cost-push inflation
 Briefly compare the Monetarists' and Keynesian explanations
of inflation
 Discuss the causes of demand-pull inflation
- Increase in household consumption
o Decline in savings
o Tax reduction
o Access to credit
- Investors' expenditure
- Government expenditure
- Export services
 Discuss the causes of cost-push inflation
- Wages
- Key inputs
- Exchange rate depreciation
- Profit margins
- Productivity
- Natural disasters

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Economics

32
Examination Guidelines

TOPIC 13:
TOURISM

DBE/2021

CONTENT DETAILS FOR TEACHING, LEARNING
AND ASSESSMENT PURPOSES

Debate the economic
importance of tourism for
South Africa and suggest
policies to promote it
...

13
...
2 Reasons for its growth



Briefly discuss the reasons for growth in the tourism industry
(internationally and domestically)

13
...
4 The benefits of tourism



Examine in detail the benefits of tourism
- Households
- Businesses
- State
- Infrastructure development

13
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6 Policy suggestions

 Discuss the Department of Tourism's policy suggestions under the
following headings:
- Marketing
- Spatial distribution
- Taxing
- Infrastructure development

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Economics

TOPIC 14:
ENVIRONMENTAL
SUSTAINABILITY

33
Examination Guidelines

DBE/2021

CONTENT DETAILS FOR TEACHING, LEARNING
AND ASSESSMENT PURPOSES

Analyse environmental
sustainability and investigate
recent international
agreements in this regard, for
example the Rio de Janeiro
and Johannesburg summits
14
...
2 Measures to ensure
sustainability

 Brief discussion of how the markets can be used to ensure
sustainability under the following headings:
- The market does not take care of social costs and benefits
- The market fails because of specific reasons
- The mechanism of the market and social costs and benefits
 Discuss in detail how the government can ensure sustainable
development under the following headings:
- Grant property rights
- Pay for environmental use
- Levy environmental tax
- Pay environmental subsidies
- Issue marketable permits
- Command and control
- Voluntary agreements
- Education

14
...


34
Examination Guidelines

DBE/2021

CONCLUSION

This Examination Guidelines document is meant to articulate the assessment aspirations
espoused in the CAPS document
...

Qualitative curriculum coverage as enunciated in the CAPS cannot be over-emphasised
...
4–7) replaces the ANNEXURE included in the
CAPS (pp
...


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