The Main Aggregates (Grade 11 NSC Matric Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What does GDP measure?
What does GDP measure?
Total value of final goods & services
How many methods can be used to calculate GDP?
How many methods can be used to calculate GDP?
Three methods: value added, income, exp.
What is the main advantage of using the GVA method?
What is the main advantage of using the GVA method?
It prevents double-counting
In the bread example, if farmer adds R20,000, miller R15,000, baker R5,000, shop R5,000, what is GVA?
In the bread example, if farmer adds R20,000, miller R15,000, baker R5,000, shop R5,000, what is GVA?
R45,000
What does represent in the GDE formula?
What does represent in the GDE formula?
Final consumption by households
What is the correct formula for expenditure on GDP?
What is the correct formula for expenditure on GDP?
Which is a benefit of exports?
Which is a benefit of exports?
Bringing foreign currency into country
What is an important function of imports?
What is an important function of imports?
Offering greater variety and choice
In the income method, what are the four payments to factors of production?
In the income method, what are the four payments to factors of production?
Rent, interest, wages, profits
How does GNI relate to GDP?
How does GNI relate to GDP?
GNI = GDP + income from abroad - foreign