IOP2605 ASSESSMENT 4 SEMESTER 1 2024 List the four productive ways in which money can be spent and high-quality jobs created in the global economy, as suggested by Tooze (2020) In your own words, explain the concept of labour market and the challenges

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Table of Contents
Question 1 .................................................................................................................. 3

Question 2 .................................................................................................................. 5

Question 3 .................................................................................................................. 8

Question 4 ................................................................................................................ 11

References ............................................................................................................... 13




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Question 1

1.1 Four Productive Ways Money Can Be Spent and High-Quality Jobs Created in the
Global Economy (Tooze, 2020)

While the specific suggestions by Tooze (2020) are not provided in the excerpt,
generally, money can be productively spent in ways that align with economic theories
and practical observations. Assuming Tooze's suggestions are in line with common
economic strategies, the four productive ways money can be spent to create high-
quality jobs might include:

Investment in Education and Training: Enhancing the skill set of the workforce to meet
the demands of modern industries (Tooze, 2021).

Infrastructure Development: Building and maintaining infrastructure to support
business operations and economic activities.

Research and Development (R&D): Funding innovation and technological
advancements that drive new industries and improve productivity (Tooze, 2021).

Supporting Small and Medium Enterprises (SMEs): Providing financial and technical
support to SMEs to stimulate job creation and economic growth.

1.2 Concept of Labour Market and Challenges Faced by the Labour Market in South
Africa

Labour Market: The labour market refers to the supply and demand for labour, where
employees provide the labour and employers provide the wages. It encompasses the
interaction between workers seeking jobs and employers seeking workers.

Challenges in South Africa

High Unemployment Rates: A significant portion of the population, especially the
youth, remains unemployed.

Skills Mismatch: There is a disparity between the skills that job seekers possess and
the skills that employers need.

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