During 2021, demand for several South African products both expanded and contracted. In that same year, a South African court prevented a multinational company (MNC) from carrying out oil exploration along the South African coastline. South Africa also saw output rise, mainly because of growth in its tertiary sector. Even so, unemployment stood at 35%, far short of full employment.
(a)[2]
Define what is meant by an extension in demand.
(b)[4]
Explain two external costs that could result from exploring for oil.
(c)[6]
Analyse how growth in a country’s tertiary sector can increase its living standards.
(d)[8]
Discuss whether workers who lose their jobs are likely to remain unemployed for a long time.
Worked solution & mark scheme
This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “A movement that occurs along the demand curve” …