Gr10 EC P1 (ENG) June 2022 Question Paper
Gr10 EC P1 (ENG) June 2022 Question Paper
Gr10 EC P1 (ENG) June 2022 Question Paper
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PROVINCIAL EXAMINATION
JUNE 2022
GRADE 10
ECONOMICS
(PAPER 1)
TIME: 1½ hours
MARKS: 100
10 pages
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ECONOMICS 2
(PAPER 1) GRADE 10
SECTION A: COMPULSORY
SECTION B: Answer ONE of the two questions.
SECTION C: Answer ONE of the two questions.
3. Number the answers correctly according to the numbering system used in this
question paper.
8. Answer the questions in full sentences and ensure that the format, content
and context of your responses comply with the cognitive requirements of the
questions.
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ECONOMICS 3
(PAPER 1) GRADE 10
SECTION A (COMPULSORY)
1.1 Various options are provided as possible answers to the following questions.
Choose the correct answer and write only the letter (A – D) next to the question
numbers (1.1.1 – 1.1.5) in the ANSWER BOOK, e.g. 1.1.6 E.
A negative
B positive
C normative
D scientific
1.1.2 The process of changing raw materials into finished goods and services
is called …
A distribution.
B production.
C consumption.
D investment.
1.1.3 Payments for social security, disability grants and child support grants
are known as …
A transfer payments.
B social payments.
C savings.
D investments.
A PAYE.
B Value Added Tax.
C Sin Tax.
D Excise Taxes.
1.1.5 An indicator that changes at the same time as the economy changes is
called a … indicator.
A composite
B coincidental
C leading
D lagging (5 x 2) (10)
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ECONOMICS 4
(PAPER 1) GRADE 10
1.2 Choose a description from COLUMN B that matches the item in COLUMN A.
Write only the letter (A – G) next to the question numbers (1.2.1 – 1.2.6) in the
ANSWER BOOK, e.g., 1.2.7 H.
COLUMN A COLUMN B
1.2.1 Wages A The portion of money that is not spent on
goods and services
1.2.2 Savings
B The potential benefits an individual missed
1.2.3 Factor market out on when choosing one alternative over
another
1.2.4 Opportunity cost
C Does not command a price in the market
1.2.5 Free goods
D Believes that markets are inherently
1.2.6 Keynesian unstable, and fluctuations are part of the way
a market economy operates
1.3 Give ONE term for each of the following descriptions. Write only the term next to
the question numbers (1.3.1 – 1.3.4) in the ANSWER BOOK. Abbreviations,
acronyms and examples will NOT be accepted.
1.3.1 Land, capital, labour, and entrepreneurship that are needed as inputs to
produce goods and services
1.3.3 The economic problem of unlimited human wants in a world with limited
resources
1.3.4 The turning point in the business cycle where the level of economic
activities is at its lowest (4 x 1) (4)
TOTAL SECTION A: 20
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ECONOMICS 5
(PAPER 1) GRADE 10
SECTION B
Answer ONE of the two questions from this section in the ANSWER BOOK.
2.1.2 Why might GDP growth not necessarily lead to a higher standard of
living for all citizens? (1 x 2) (2)
2.2 Study the following extract and answer the questions that follow.
Sam Ouliaris
An economic model is a simplified description of reality, designed to yield
hypotheses about economic behaviour that can be tested. Different
economists will make different judgments about what is needed to explain
their interpretations of reality. Examples of economic models include the
Classical Model and the Production Possibility Frontier.
[Adapted source: https://www.imf.org]
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ECONOMICS 6
(PAPER 1) GRADE 10
2.3 Study the following information and answer the questions that follow.
Agriculture -0,4%
Trade -0,4%
Mining -0,4%
-0,4% Construction
2.3.1 Identify the industry that recorded the highest growth rate. (1)
2.3.3 Briefly describe the term Gross Domestic Product (GDP). (2)
2.3.4 How does the local economy benefit from the foreign sector? (2)
2.3.5 Why is the GNP of a country not the same as its GDP? (2 x 2) (4)
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ECONOMICS 7
(PAPER 1) GRADE 10
3.1.2 How does the level of business activities change during a depression?
(1 x 2) (2)
3.2 Study the pictures below and answer the questions that follow.
[Source: Google]
3.2.1 Name the harmful labour practice as illustrated in the pictures. (1)
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ECONOMICS 8
(PAPER 1) GRADE 10
3.3 Study the article below and answer the questions that follow.
3.3.2 What type of plastic carrier bags may no longer be used by retailers? (1)
3.3.4 How does the use of plastic harm the environment? (2)
3.3.5 How can government intervene to help save the environment? (2 x 2) (4)
3.4 Briefly explain the difference between economic goods and free goods. (2 x 4) (8)
TOTAL SECTION B: 40
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ECONOMICS 9
(PAPER 1) GRADE 10
SECTION C
Answer ONE of the two questions from this section in the ANSWER BOOK.
MARK
STRUCTURE OF ESSAY
ALLOCATION
Introduction:
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TOTAL SECTION C: 40
TOTAL: 100
END