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Summary Current Affairs IEB 2024 Business Studies
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Current Affairs for IEB 2024 Business Studies Final with uptodate statistics for South Africa
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Current Affairs IEB 2024 Business StudiesUpdated September 2024
Inflation
Inflation drives up the cost of goods, which can lead to higher retail prices. Consumers
may reduce spending or switch to cheaper alternatives, affecting sales volumes and
profit margins. Retailers may also face higher operational costs, such as wages and rent,
squeezing their profitability.
- Inflation Rate: 5.9% - This reflects the percentage increase in the Consumer Price
Index over the past 12 months. (Source: Statistics South Africa)
- Unemployment Rate: 32.7% - Represents the percentage of the labor force that is
unemployed and actively seeking work. (Source: Statistics South Africa)
- GDP Growth Rate: 2.3% - Indicates the rate at which South Africa's economy is
growing compared to the previous year. (Source: Statistics South Africa)
- Current Account Deficit: 4.1% of GDP - Measures the gap between the country's
total imports and exports, expressed as a percentage of GDP. (Source: Statistics
South Africa)
- Government Debt-to-GDP Ratio: 72.8% - Reflects the total government debt
compared to the country's gross domestic product. (Source: South African Reserve
Bank)
- Poverty Rate: 40.0% - Indicates the percentage of the population living below the
poverty line. (Source: South African Reserve Bank)
- Interest Rate: 7.0% - The rate at which the central bank lends to commercial banks,
influencing overall economic activity and borrowing costs. (Source: South African
Reserve Bank)
, Energy Crisis
Load shedding and rising energy costs can increase operational expenses for retailers,
particularly those with refrigerated goods. They may need to invest in backup power
solutions or pass on the extra costs to consumers, potentially making their prices less
competitive.
- Load Shedding Incidence: 70% - Percentage of businesses experiencing frequent load
shedding, impacting their operations and requiring additional energy solutions. (Source:
South African Business Confidence Index, August 2024)
- Increased Energy Costs: 35% - Percentage of retailers reporting a significant rise in
energy costs due to higher tariffs and load shedding, affecting their overall
expenses. (Source: Energy Regulatory Authority of South Africa, July 2024)
- Backup Power Investment: 45% - Percentage of retailers investing in backup power
solutions to mitigate the effects of load shedding on their operations. (Source: South
African Retailers' Association Report, August 2024)
- Price Increase Passed On: 40% - Percentage of retailers that have passed on the
increased energy costs to consumers, leading to higher prices for goods. (Source:
Consumer Price Index Report, July 2024)
- Operational Impact: 60% - Percentage of retailers affected by operational
disruptions due to energy crises, impacting their ability to maintain stock levels and
manage inventory. (Source: National Retail Federation of South Africa, August 2024)
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