Get a complete guide to the *Economy of South Africa* in Grade 12 Geography! This resource covers key economic sectors, challenges, and strategies, with clear explanations and summaries. Perfect for quick revision or in-depth study. Buy it now and ace your exam!
Gross Domestic Product (GDP): The total value of goods and services
produced in one year within a country's borders.
Gross National Product (GNP): The total value of goods and services
produced by a country's permanent residents in one year.
Decentralization: Shifting industries away from over-centralized areas.
Economic activities: Activities that people practice to meet their needs.
Formal sector: Registered businesses licensed to sell goods and provide
services.
Globalization: The way in which countries around the world's economic,
social, political, and cultural activities interlink (work together).
Favorable trade balance: This is when the export value is more than the
import value.
Trade: The flow of goods and services from manufacturers to consumers
around the world.
Trade balance: The export value minus the import value.
Informal sector: Activities of small, unregistered businesses that sell
goods and provide services unlicensed.
Infrastructure: Provision of transport networks (roads, railways) and
services (electricity, communications, water and sewerage).
Industrial Development Zone (NOS): Industrial complexes or areas
identified as economic growth points and new investment opportunities
used by developing countries to attract investment, create jobs, and
increase exports.
, Spatial Development Initiative (ROI): Programs aimed at improving
infrastructure and attracting business investment in rural areas that were
previously underdeveloped and neglected.
Centralization: Shifting industries into core areas.
Economic Activities:
Activities aimed at the extraction of raw materials, e.g.
Agriculture, forestry, mining, and fisheries.
Activities that process raw materials and thereby
produce goods, e.g. factories and industries.
Activities involved in the provision of services, e.g.
banking, trade and transport.
Activities aimed at information and research.
Food Security:
When all people have enough food to satisfy their need for a healthy and
productive life
When all people do not have enough food to satisfy their need
for a healthy and productive life.
Adverse factors
Lack of fertile soil
Natural disasters – droughts
Poverty
Increases in food prices
Climate change
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