Grade 12 Economics Core Notes

Comprehensive practice flashcards covering macroeconomics, microeconomics, and contemporary economic issues based on the Grade 12 Economics core notes.

Focus and introduction year of the Reconstruction and Development Programme (RDP)

Introduced in $1994$ to eradicate poverty and address social service backlogs by focusing on jobs, housing, water, electricity, and healthcare.

Macroeconomic policy framework introduced by South Africa in June $1996$

Growth, Employment and Redistribution (GEAR).

Economic growth and unemployment targets of ASGISA ($2006$)

Halve unemployment and poverty by $2014$, and accelerate average economic growth to $6\%$ between $2010$ and $2014$.

Nationwide government programme created to provide temporary employment using labour-intensive methods

Expanded Public Works Programme (EPWP).

Core employment and poverty targets of South Africa's National Development Plan (NDP)

Eliminate poverty by $2030$, reduce unemployment to $14\%$ by $2020$, and reduce unemployment to $6\%$ by $2030$.

Primary role of the Small Business Development Promotion Programme (SBDPP)

To deliver support, funding, and advisory services to small, medium, and micro enterprises (SMMEs).

Four industrialised metropolitan regions accounting for approximately $80\%$ of South Africa's GDP

Johannesburg-Pretoria-Tshwane, Durban-Pinetown, Cape Town metropole, and Port Elizabeth-Coega-Uitenhage.

Two key national industrial development policies formulated to direct South Africa's industrialisation

National Industrial Policy Framework (NIPF) and Industrial Policy Action Plans (IPAP).

Three competitive input sectors prioritised under the Integrated Manufacturing Strategy (IMS)

Transport, telecommunications, and energy.

Primary objective of Spatial Development Initiatives (SDIs)

To attract private and public sector investment into underdeveloped areas with high poverty and unemployment to unlock their inherent economic potential.

Distinction between Industrial Development Zones (IDZs) and Special Economic Zones (SEZs)

IDZs are purpose-built industrial sites linked strictly to international ports or airports catering solely to export industries, while SEZs can be located anywhere and cater to both domestic and export markets.

Number of designated Strategic Integrated Projects (SIPs) identified to coordinate infrastructure delivery in South Africa

$17\text{ designated projects}$.

Grant provision offered under the Skills Support Programme (SSP)

A tax-free cash grant covering up to $50\%$ of a company's training and skills development costs for a maximum period of $3\text{ years}$.

Industrial development grant that covers up to $30\%$ of the cost of infrastructure development

Critical Infrastructure Programme (CIP).

Coverage limit provided by the Foreign Investment Grant (FIG)

Covers $15\%$ of the cost of moving imported machinery and equipment to South Africa, up to a maximum payout of $R3\text{ million}$.

Eight benchmark criteria used to assess regional development policies in South Africa

Free market orientation, competition, sustainability, good governance, provision of resources, investment in human capital, integration, and partnerships.