Mining and Industry: 1910 to 1990s (Grade 10 NSC Matric Economics): Flashcards
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SA's economic problem in 1910
SA's economic problem in 1910
Exported cheap raw materials, imported expensive manufactured goods
Commercialised farming
Commercialised farming
Producing crops to sell in markets (not for own use)
Urbanisation definition
Urbanisation definition
Movement of people from rural areas to cities for work
Land Act of 1913 effect
Land Act of 1913 effect
Removed land ownership rights from black farmers
Three major state-owned companies in SA
Three major state-owned companies in SA
Iscor (steel), Eskom (electricity), Sasol (oil & chemicals)
Import substitution
Import substitution
Developing local manufacturing due to sanctions/inability to import
Economies of scale
Economies of scale
Cost savings from producing large quantities
Job reservation during apartheid
Job reservation during apartheid
Laws restricting certain jobs to white workers only
Brain drain
Brain drain
Skilled people leaving the country
% urban population: 1910 vs 2000
% urban population: 1910 vs 2000
25% (1910) to 60% (2000)