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SECTION B QUESTION 2: : Whan the question requires you to "list or "name", you need not write a sentence but meroly the word or a phrase. This MUST be dona in bullet form. This types of questions are applicable for 2.1.1, 3.1.1 and 4.1.1 21 Name TWO economic participants that are responsible for gross fixed capital formation. 2.2 List TWO main economic sectors when calculating GDP (P). \( (2 \times 1)(2) \) 2.3 Name any TWO participants in a closed economy. ( \( 2 \times 1 \) ) (2) 2.4 Name any TWO examples of taxes on products. \( (2 \times 1)(2) \) 2.5 Name any two main categories of final consumption expenditure by government. \( (2 \times 1)(2) \) 2.6 List any TWO maln economic activities in modern soclaty \( (2 \times 1)(2) \) 2.7 Name any TWO methods of calculating GDP. \( (2 \times 1)(2) \) 2.8 List any TWO economic leakages \( (2 \times 1)(2) \) 2.9 Name TWO types of assets into which Gross fixed capital investment is divided into. \[ (2 \times 1)(2) \]

Ask by Hamilton Curry. in South Africa
Feb 03,2025

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- Businesses (Firms) - Government - Primary Sector - Secondary Sector - Households - Businesses (Firms) - Value Added Tax (VAT) - Excise Duty - Healthcare - Education - Manufacturing - Services - Expenditure Approach - Income Approach - Savings - Taxes - Buildings - Machinery and Equipment

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Beyond the Answer

Did you know that gross fixed capital formation plays a significant role in a country's economic growth? It's basically how economies invest in structures, machinery, and equipment, leading to increased productivity and job creation. The more a nation invests in these assets, the more robust its economy is likely to become! When we talk about GDP, it's fascinating to note how different sectors contribute to a nation's economic health. The primary sector (like agriculture) provides essential resources, while the tertiary sector (services) offers employment and boosts economic value through consumer experiences. Together, they paint a comprehensive picture of an economy's strength!

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