Question
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 Murphy Little. in South Africa
Feb 03,2025
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Answer
**2.1 Economic Participants for Gross Fixed Capital Formation:**
- Businesses (Firms)
- Government
**2.2 Main Economic Sectors for GDP (P):**
- Primary Sector
- Secondary Sector
**2.3 Participants in a Closed Economy:**
- Households
- Businesses
**2.4 Examples of Taxes on Products:**
- Value Added Tax (VAT)
- Excise Duty
**2.5 Categories of Final Consumption Expenditure by Government:**
- Healthcare Services
- Education Services
**2.6 Economic Activities in Modern Society:**
- Unregulated Gambling
- Pollution-Intensive Industries
**2.7 Methods of Calculating GDP:**
- Expenditure Approach
- Income Approach
**2.8 Economic Leakages:**
- Savings
- Taxes
**2.9 Types of Assets for Gross Fixed Capital Investment:**
- Machinery and Equipment
- Buildings and Infrastructure
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Businesses Households Agriculture Manufacturing Government Foreign sector Value-added tax (VAT) Sales tax Social services Defense spending Production Distribution Expatriation of profits Savings Buildings Machinery