, ECS3709 May June Exam (COMPLETE
ANSWERS) Semester 1 2026 - DUE 25 May
2026
SECTION A [20 MARKS] — FULL AND
COMPLETE
A1: Measurement of Living Standards
Between Country Groupings (12 marks)
A1 (i): GDP trend analysis (1980–2024)
The dataset shows a strong and consistent increase in GDP from 1980 to 2024. In 1980, GDP
stood at 69,637 (R millions), and it rises steadily over time to reach 7,352,450 in 2024. This
reflects long-term economic expansion over the 44-year period.
However, the growth pattern is not smooth. Between 1980 and the early 1990s, GDP increases
slowly, reflecting a developing economy with limited industrial capacity. From the mid-1990s
onwards, growth accelerates significantly due to structural reforms, increased investment, and
stronger economic integration. After 2010, GDP continues to grow but becomes more volatile,
especially around 2020 where a temporary slowdown is observed due to global economic shocks.
A recovery follows after 2021, leading to continued expansion up to 2024.
ANSWERS) Semester 1 2026 - DUE 25 May
2026
SECTION A [20 MARKS] — FULL AND
COMPLETE
A1: Measurement of Living Standards
Between Country Groupings (12 marks)
A1 (i): GDP trend analysis (1980–2024)
The dataset shows a strong and consistent increase in GDP from 1980 to 2024. In 1980, GDP
stood at 69,637 (R millions), and it rises steadily over time to reach 7,352,450 in 2024. This
reflects long-term economic expansion over the 44-year period.
However, the growth pattern is not smooth. Between 1980 and the early 1990s, GDP increases
slowly, reflecting a developing economy with limited industrial capacity. From the mid-1990s
onwards, growth accelerates significantly due to structural reforms, increased investment, and
stronger economic integration. After 2010, GDP continues to grow but becomes more volatile,
especially around 2020 where a temporary slowdown is observed due to global economic shocks.
A recovery follows after 2021, leading to continued expansion up to 2024.
