Term 1 – 4 Topics

 1.     Factors of production and its remuneration

•  Economic goods & services
• Economic systems
• South Africa’s economic structures

 2.     Relationships between markets

•  Effects of cost & revenue on price and quantities
• Price elasticity
• Economic growth

 3.     Economic development

• Poverty
• Money & banking
• Economic growth and development: South Africa’s role and economic importance in Africa

 4.     Globalisation

•  Environmental deterioration