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### LimpopoDoE June 2024
#### Economics/P1
#### SECTION A (COMPULSORY)

### QUESTION 1
30 MARKS - 20 MINUTES

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 number (1.1.1 - 1.1.8) in the ANSWER BOOK, e.g., 1.1.9 D.

1.1.1 Labour can be bought and sold in the... market.
- A. goods
- B. factor
- C. financial
- D. consumers

1.1.2 The peak of the business cycle is characterized by a
- A. stable inflation rate.
- B. high unemployment rate.
- C. low input.
- D. high demand for credit.

1.1.3 In South Africa, SABC, ESKOM and SAA are known as...
- A. corporate
- B. enterprises
- C. industries
- D. parastatals

1.1.4 The Medium-term Expenditure Framework (MTEF) is a ...-year forecast of government expenditure and revenue.
- A. three
- B. one
- C. two
- D. four

1.1.5 The deficit rule states that the shortage on the budget should not exceed... of the GDP.
- A. 1%

(Note: The text appears to be cut off here. The answer options for 1.1.5 should ideally be completed if available.)

Sagot :

GinnyAnsweridn

Final answer:

Labour in the factor market, business cycle peak, SA parastatals, MTEF forecast, deficit rule limit.


Explanation:

Labour can be bought and sold in the factor market.

The peak of the business cycle is characterized by high demand for credit.

In South Africa, SABC, ESKOM, and SAA are known as parastatals.

The Medium-term Expenditure Framework (MTEF) is a three-year forecast of government expenditure and revenue.

The deficit rule states that a shortage on the budget should not exceed 1% of the GDP.


Learn more about Economics concepts here:

https://brainly.com/question/30194723


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