Transcription of TOPIC 1: BUSINESS CYCLE COMPOSITION AND …
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TOPIC 1: BUSINESS CYCLE COMPOSITION AND …
gauteng department OF education SENIOR SECONDARY INTERVENTION PROGRAMME ECONOMICS GRADE 12 SESSION 2 (LEARNER NOTES) Page 1 of 15 TOPIC 1: BUSINESS CYCLE COMPOSITION AND REASONS Learner Note: The BUSINESS CYCLE shows what happens to the value of the domestic output (GDP) of the economy over time. The time series shows the values of a variable over time. SECTION A: TYPICAL EXAM QUESTIONS: TOPIC 1: BUSINESS CYCLE COMPOSITION AND REASONS QUESTION 1: 9 minutes (Taken from DoE Nov 2008) Study the diagram below and answer the questions that follow. Define a BUSINESS CYCLE . (3) Identify the labels for the following periods in the BUSINESS CYCLE as indicated in the above diagram: (a) Upswing or expansion (b) Length or duration of a CYCLE (2 x 3) (6) At which point/phase in the above diagram will unemployment be at its highest? (2) Name ONE exogenous factor that gives rise to BUSINESS cycles.
gauteng department of education senior secondary intervention programme economics grade 12 session 2 (learner notes) page 1 of 15
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