Economics Grade 12 Ssip Notes Form
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People also ask economics grade 12 notes pdf
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What is circular flow of income Class 12 notes?
It is the flow of money between firms and households. It involves the exchange of goods and services. It involves the exchange of money. These may be the difficulty of the Barter system in exchange of goods & factor services.
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What is circular flow economics grade 12 notes?
The circular-flow model of the economy is a simplification showing how the economy works and the relationship between income, production and spending in the economy as a whole. The circular-flow model of an open economy shows the workings of an economy that is open to foreign trade.
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What is circular flow in economics class 12?
In the Circular Flow of Income Production activities generate Factor Income (Factor Payments made to households by firm). This Factor Income is then converted into Expenditure (Consumption Expenditure paid to firms by households).
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What are the types of circular flow Class 12?
There are two types of circular flow. Real flow: The term real flow means the flow of factor services from households to firms. Similarly, the flow of goods and services from firms to households. Money flow: The money flow refers to the flow of factor payments from firms to households for factor services.
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What is the Phillips curve in economics grade 12?
The Phillips curve suggests there is an inverse relationship between inflation and unemployment. This suggests policymakers have a choice between prioritising inflation or unemployment.
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What is circular flow of economy notes?
The circular flow model demonstrates how money moves through society. Money flows from producers to workers as wages and flows back to producers as payment for products. In short, an economy is an endless circular flow of money. That is the basic form of the model, but actual money flows are more complicated.
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What is inflation grade 12 economics notes?
Inflation is a sustained and a signNow increase in the general price level over a period of time. People's real disposable income tends to decrease. inflation rate increase then the purchasing power of money will decrease.
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What are the main topics in Grade 12 economics?
Grade 12 Economics The following topics make up each of the TWO exam papers that you write for the Economics examination: Macro-economics: Circular flow, Business cycles, Public sector, Foreign exchange markets, Protectionism and Free Trade. Micro-economics: Perfect markets, Imperfect markets, Market failure.
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