Answer the following questions - NSC Economics - Question 3 - 2021 - Paper 1
Question 3
Answer the following questions.
3.1.1 Name any TWO methods of import substitution. (2 x 1)
3.1.2 How can the government use land restitution to achieve its develop... show full transcript
Worked Solution & Example Answer:Answer the following questions - NSC Economics - Question 3 - 2021 - Paper 1
Step 1
Name any TWO methods of import substitution.
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Answer
Two methods of import substitution include:
Tariffs: Imposing tariffs on imported goods encourages consumers to buy local products instead.
Subsidies: Providing financial support to local industries decreases their production costs, making them more competitive against imports.
Step 2
How can the government use land restitution to achieve its development and redress objectives?
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The government can implement land restitution by returning land to its rightful owners or compensating them for lost land, thereby improving their standard of living and addressing past injustices. This action not only helps restore dignity but also empowers previously disadvantaged communities.
Step 3
Identify the energy source that relates to the burning of fossil fuels.
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The energy source that relates to the burning of fossil fuels is Coal.
Step 4
Give the index that is used to measure society's level of development.
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The index used to measure society's level of development is the Human Development Index (HDI).
Step 5
Briefly describe the term economic indicator.
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An economic indicator is a statistical measure that provides information about the economic performance of a country or region. Examples include GDP growth rate, unemployment rate, and inflation rate.
Step 6
Explain the negative impact of rural-urban migration on the supply of services in urban areas.
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Rural-urban migration can lead to increased population density in urban areas, resulting in:
Overwhelmed public services such as water supply, waste disposal, and healthcare, leading to inadequate access.
Strain on housing and utilities, causing informal settlements to form, which lack basic services.
Step 7
How will renewable sources of energy affect poor households in rural areas positively?
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Renewable sources of energy can positively affect poor households in rural areas by:
Lower Energy Costs: As renewable energy sources become more common, households can benefit from reduced energy bills.
Increased Accessibility: These energy sources can be decentralized, bringing energy access to communities that have little or no access to conventional energy services. This can empower households and improve their quality of life.