The central problem that is evident in the above extract is that of… a) Economic welfare b) Data revision c) Unrecorded activity d) Non-market production
1.3 Read the following extract and answer questions 1.3-1.5.
South Africa’s economy grew by 1.1% in the first quarter of the year (4 marks)
Stats SA has published the latest
The growth follows a revised 1.4% rise in real GDP in the fourth quarter of 2020. On an annualised basis, the economy grew 4.6% quarter-on-quarter.
Following confusion caused by the annualisation of GDP data in 2020 – amid the Covid-19 pandemic and resulting lockdowns – Stats SA said it would no longer use the annualised data as the headline GDP statistic.
During periods of steady
Source: https://businesstech.co.za/news/finance/496851/south-africas-economy-grew-by-1-1-in-the-first-quarter-of-the-year/
Accessed: 19/08/21
The central problem that is evident in the above extract is that of…
a) Economic welfare
b) Data revision
c) Unrecorded activity
d) Non-market production
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