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An economic system where most of the assets (money and land) are in privately owned hands. In a communist country it would be owned by the state.

Chinese competitorship

Because China has such a large population, human labour is extremely cheap. Items such as clothing in particular, is manufactured at very low costs. These cheap articles are sold across the world at very low prices. Local manufacturers cannot compete with these prices – hence the loss of business and eventually they have to close down their factories. People lose their jobs and in the process unemployment figures soar.

Activity 1:

To understand the meaning of the word depression

[lo 2.1]

Make a tick next to the correct meaning of the word Depression :

  • When there is no economic growth . . . .
  • When there is a world-wide crisis . . .
  • When there is a laxity in trade . . . .

A tip

• When the value of money decreases, we speak of the depreciation of a money unit.

• When we say someone suffers from depression, it means that a person is constantly feeling miserable, or not in good spirits. The person’s mood is very low. In that case someone is said to suffer from depression.

Therefore we can say that the economy is “depressed” of “down” when there is a depression.

Activity 2:

To determine what products are imported or exported

[lo 2.1]

In some cases South Africa produces enough food, to the effect that the country can also export some of it.

Tick the foodstuffs that are being imported or exported:

Product Export Import
Deciduous fruit
Dairy products


Learning Outcomes(LOs)
LO 2
SUSTAINABLE GROWTH AND DEVELOPMENTThe learner will be able to demonstrate an understanding of sustainable growth, reconstruction and development, and to reflect critically on related processes.
Assessment Standards(ASs)
We know this when the learner:
2.1 collects information on the influence of apartheid economic policies on ownership , poverty , wealth and quality .
2.2 identifies steps required to redress socio- economic imbalances and poverty.


This learning unit offers guidelines to the learners which will enable them to attempt projects and tasks on some of the following:

  • affirmative action
  • trade agreements with other countries in Africa and elsewhere
  • the manufacturing industry in South Africa
  • Import of agricultural products from other countries (meat and dairy products from Australia and South America, wheat and maize from North America, etc.)

Activity 1

  • All three possibilities are correct.

The learners can do a group task on the Great Depression of 1929 and what the consequences were for the people of this country. Personal contributions of older members of the family would be invaluable.

Activity 2

  • South Africa’s main agricultural products are listed in the table. When there is a surplus, export to other countries might take place, and shortages might necessitate the import of products.

The trade balance might also require imports or exports to or from certain countries. Sometimes products are imported at lower prices than what local farmers can produce. At the present moment dairy products are more expensive than the imported products.

Farmers who produce deciduous fruit, on the other hand, get higher prices for their products on the overseas market because of the favourable exchange rate at the present moment.

It can therefore be said that the products in the table are sometimes exported, and sometimes imported.

Questions & Answers

how do you translate this in Algebraic Expressions
linda Reply
why surface tension is zero at critical temperature
Need to simplify the expresin. 3/7 (x+y)-1/7 (x-1)=
Crystal Reply
. After 3 months on a diet, Lisa had lost 12% of her original weight. She lost 21 pounds. What was Lisa's original weight?
Chris Reply
what is biological synthesis of nanoparticles
Sanket Reply
what's the easiest and fastest way to the synthesize AgNP?
Damian Reply
types of nano material
abeetha Reply
I start with an easy one. carbon nanotubes woven into a long filament like a string
many many of nanotubes
what is the k.e before it land
what is the function of carbon nanotubes?
I'm interested in nanotube
what is nanomaterials​ and their applications of sensors.
Ramkumar Reply
what is nano technology
Sravani Reply
what is system testing?
preparation of nanomaterial
Victor Reply
Yes, Nanotechnology has a very fast field of applications and their is always something new to do with it...
Himanshu Reply
good afternoon madam
what is system testing
what is the application of nanotechnology?
In this morden time nanotechnology used in many field . 1-Electronics-manufacturad IC ,RAM,MRAM,solar panel etc 2-Helth and Medical-Nanomedicine,Drug Dilivery for cancer treatment etc 3- Atomobile -MEMS, Coating on car etc. and may other field for details you can check at Google
anybody can imagine what will be happen after 100 years from now in nano tech world
after 100 year this will be not nanotechnology maybe this technology name will be change . maybe aftet 100 year . we work on electron lable practically about its properties and behaviour by the different instruments
name doesn't matter , whatever it will be change... I'm taking about effect on circumstances of the microscopic world
how hard could it be to apply nanotechnology against viral infections such HIV or Ebola?
silver nanoparticles could handle the job?
not now but maybe in future only AgNP maybe any other nanomaterials
I'm interested in Nanotube
this technology will not going on for the long time , so I'm thinking about femtotechnology 10^-15
can nanotechnology change the direction of the face of the world
Prasenjit Reply
At high concentrations (>0.01 M), the relation between absorptivity coefficient and absorbance is no longer linear. This is due to the electrostatic interactions between the quantum dots in close proximity. If the concentration of the solution is high, another effect that is seen is the scattering of light from the large number of quantum dots. This assumption only works at low concentrations of the analyte. Presence of stray light.
Ali Reply
the Beer law works very well for dilute solutions but fails for very high concentrations. why?
bamidele Reply
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
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Source:  OpenStax, Economic and management sciences grade 7. OpenStax CNX. Sep 10, 2009 Download for free at http://cnx.org/content/col11025/1.1
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