Complete the following matching exercise and define the given economic terms.

Here are the solutions to the questions:

1.2 Choose a description from COLUMN B that matches an item in COLUMN A.

• 1.2.1 Secondary sector matches G. manufacturing and construction.
• 1.2.2 International competitiveness matches A. the ability of South Africa's businesses to match the price and quality of other nation's output.
• 1.2.3 Mixed economic system matches E. combination of private and public ownership.
• 1.2.4 Renewable resources matches F. the means of production that can constantly replace themselves and do not get used up.
• 1.2.5 Money flow matches C. income and expenditure.
• 1.2.6 Production matches D. creation of goods and services.

1.3 Give ONE term for each of the following descriptions.

• 1.3.1 The increase in the production capacity of a country measured by real GDP.
  • Economic growth
• 1.3.2 A sector made up of unregistered and unregulated businesses usually run from home.
  • Informal sector
• 1.3.3 Goods and services that are not used as inputs for producing other goods.
  • Final goods
• 1.3.4 An economy that does not include the foreign sector.
  • Closed economy