A cash incentive given to a producer to lower the cost of production
1.3.2 A situation where one firm fixes a price and other firms accept it as the market price

1.3.3 The spillover effect of an economic activity that affects third parties
1.3.4 An excessive rise in the general price level, sometimes referred to runaway inflation
1.3.5 The dumping of waste matter into the environment
1.3.6 The long-term change in weather patterns which includes changes in temperature, rainfall patterns and wind. Name the institution in the extract that investigates anticompetitive behaviour in South Africa. (1)

2.3.2 Identify ONE aspect that was influenced negatively by
ArcelorMittal's anticompetitive behaviour. (1)
2.3.3 What is the role of the Competition Tribunal? (2)
2.3.4 What is meant by market dominance? (2)
2.3.5 How will ArcelorMittal's anticompetitive behaviour affect the industrial sector? (2 x 2) (4)
2.4 Distinguish, without using graphs, between productive inefficiency and allocative inefficiency. (2 x 4) (8)
2.5 Draw a fully labelled graph to illustrate the economic loss of a monopolymarket structure. Identify the average price of a kilowatt per hour (kW.h) electricity in 2002. (1)
3.2.2 What trend does the average price of electricity show, as represented in the graph? (1)
3.2.3 Briefly describe the term administered-price inflation. (2)
3.2.4 Why does NERSA allow Eskom to have price increases above the inflation rate? (2)
3.2.5 Why is it important that NERSA regulates electricity prices in South Africa.

Identify TWO purposes in the table above why South Africans travelled domestically. (2)

3.3.2 Briefly describe the term domestic tourism. (2)
3.3.3 What is a possible reason for the decline in holiday trips between
2015 and 2016? (2)
3.3.4 Calculate the number of people who undertook business trips in
2016. Show ALL calculations. (4)
3.4 Briefly discuss the granting of property rights as a measure to sustain the environment. (4 x 2) (8)
3.5 How can indigenous knowledge systems (IKS) be used to increase tourism in South Africa? Name TWO environmental problems that affect environmental sustainability. (2 x 1) (2)
4.1.2 How will the producer react if the government implements amaximum price on his product? Identify ONE of the five big banks in South Africa. (1)
4.2.2 What, according to the extract, prevents any entrepreneur from entering the banking industry in South Africa? (1)
4.2.3 Briefly describe the concept oligopoly. (2)
4.2.4 Explain the nature of the product offered by the banking industry. (2)
4.2.5 How do banks compete to increase their market share in South Africa? Compare the market structure of a monopolistic competitor to that of a perfect market. (26)
• Explain, with the aid of a graph, how economic profit is achieved for a perfect competitor.

Answer rating: 100% (QA)

132 A situation where one firm fixes a price and other firms accept it as the market price This describes a cartel or pricefixing behavior 133 The spillover effect of an economic activity that affects ... View the full answer