2.1 The .. - NSC Geography - Question 2 - 2022 - Paper 2
Question 2
2.1 The ... of a country refers to the total value of goods and services produced by the economic activities of the country,
across gross domestic product (GDP).
2... show full transcript
Worked Solution & Example Answer:2.1 The .. - NSC Geography - Question 2 - 2022 - Paper 2
Step 1
Define the concept of GDP.
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Answer
Gross Domestic Product (GDP) is the total monetary value of all finished goods and services made within a country during a specific period. It serves as a comprehensive measure of a nation’s overall economic activity.
Step 2
Discuss the importance of GDP in evaluating a country’s economic performance.
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Answer
GDP is crucial for understanding the economic health of a country. It indicates the level of productivity and growth, influences governmental policies, and impacts investment decisions. Higher GDP typically reflects a prosperous economy, while declining GDP may signal an economic downturn.
Step 3
Identify the economic activity that contributed the most to the GDP in 2021 and explain your choice.
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Answer
The economic activity that contributed the most to the GDP in 2021 was finance. This sector is essential as it includes banking, investments, and insurance, playing a critical role in facilitating economic transactions and resource allocation.
Step 4
The tertiary economic activity that contributes the most to South Africa’s GDP.
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Answer
The correct answer is C. Finance. The finance sector is the predominant contributor within the tertiary sector of South Africa's GDP due to its extensive influence on investment and economic development.
Step 5
An example of a ... economic activity.
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Answer
An example of a service-based economic activity is retail. Retail involves selling consumer goods and services directly to customers, playing a significant role in the economy by generating sales and employment.
Step 6
Identify the economic activity that contributed the most to the secondary sector in 2021.
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The economic activity that contributed the most to the secondary sector in 2021 was construction. It is critical as it encompasses infrastructure development and housing projects, which are vital for economic growth and stability.
Step 7
Evaluate the true statements regarding sector contribution to GDP.
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Answer
The true statements are that the primary sector contributes the least (A) and that the tertiary sector contributes the most (C). This reflects the shift towards a service-oriented economy.
