Grade 11 Economics: Macroeconomics Topic 4 - Economic Structure

These vocabulary flashcards cover the definition, composition, and economic importance of the primary, secondary, and tertiary sectors, as well as infrastructure and historical service provision in South Africa.

Economic structure

The division of all economic activities into categories or sectors, specifically the primary, secondary, and tertiary sectors.

Primary sector

Industries that get raw material from nature, representing the first stage of production.

Genetic operations

A type of primary sector operation that can return to nature what has been taken from it, such as farming or forestry.

Exploitative operations

A type of primary sector operation that cannot return to nature what has been taken from it, such as mining and fishing.

China

South Africa's biggest trading partner.

GDP contribution of Primary Sector (2009)

Agriculture, forestry, and fishing contributed $2.3\%$ while mining accounted for $6\%$.

Mining sector investment

Responsible for almost $18\%$ of gross investment in South Africa.

Onderstepoort

Location of the Veterinary Research Institute, a research institution stimulated by the primary sector.

SABS

South African Bureau of Standards.

CSIR

Council for Scientific and Industrial Research.

Secondary sector

Industries that change natural resources into a form suitable for human use.

Manufacturing

The process that takes place to transform raw materials into consumer goods.

GDP contribution of Secondary Sector (2008)

The contribution of the secondary sector to the GDP of South Africa was $21.7\%$.

Tertiary sector

Also known as the service sector, it involves distributing goods and providing public, commercial, and professional services.

Place utility

A benefit provided by transport services by taking goods to the specific locations where consumers want to buy or use them.

Time and place utility

Benefits provided by storage services to ensure customer goods are available when needed.

GDP contribution of Tertiary Sector

Contributes $62\%$ to the overall GDP of South Africa.

Tertiary sector employment

Dominates employment in South Africa, accounting for $60\%$ of total employment.

Infrastructure

The backbone of economic activity, including communication, transport, and energy, which ensures factors of production and goods are available at the right place and time.

Transnet

An entity that provides an extensive rail commuter system to the South African business world.

Coega

A hub for new businesses near Port Elizabeth that benefits from tax-free imports.

Eskom

South Africa's major provider of electricity to households and business sectors.

RDP

Reconstruction and Development Programme, which aims to correct service provision backlogs like electricity, water, housing, and roads.

Job Fund

A fund managed by the Development Bank of South Africa aiming to create $150\,000$ jobs over three years.