POSTERS – ECONOMICS
POSTER PACK: ECONOMICS (10 POSTERS AND LECTURER GUIDE) 9780190406820
POSTER 1: CLOSED ECONOMY CIRCULAR FLOW 9780190434397
POSTER 2: CALCULATION OF GROSS DOMESTIC PRODUCT 9780190431822
POSTER 3: BUSINESS CYCLE GRAPHS 9780190441265
POSTER 4: DEMAND AND SUPPLY 9780190428495
POSTER 5: HOW TO DRAW A GRAPH IN ECONOMICS 9780190442460
Calculation of Gross Domestic Product
Production method GDP (P)
Income method GDP (I)
Expenditure method GDP (E)
POSTER 6: IMPERFECT MARKETS 9780190427788
POSTER 7: PRIMARY, SECONDARY AND TERTIARY SECTORS 9780190430269
POSTER 8: NORMAL AND ECONOMIC PROFIT 9780190442484
POSTER 9: THE MULTIPLIER 9780190436582
POSTER 10: ECONOMIC GROWTH AND DEVELOPMENT POLICIES 9780190435349
LECTURER’S GUIDE 9780190438807
How to draw a graph in Economics
Market for soft drinks Market for soft drinks
Primary, secondary and tertiary sectors
Primary sector
industries that obtain or grow raw materials
Mining and quarrying
9.7% 65.9% 21.4%
Agriculture, forestry and fishing
Secondary sector
Tertiary sector
Value added by: Primary sector + Secondary sector + Tertiary sector = Gross value added @ basic price
+ Tax on products – Subsidies on products = Gross domestic product at market price: GDP (P)
Example
Value added by Primary sector
+ Secondary sector + Tertiary sector
= Gross value added @ basic price
+ Tax on products
− Subsidies on products
= Gross domestic product @ market price: GDP (P)
R million 120 000 80 000
130 000 330 000
20 000 (30 000)
320 000
Remuneration by employees + Net operating surplus + Fixed capital consumption = Gross value added @ factor cost + Other tax on production – Other subsidies on production = Gross value added at basic price + Tax on products – Subsidies on products = Gross domestic product at market price: GDP(I)
Example
Remuneration by employees
R million 325 200
+ Net operating surplus 74 800 + Fixed capital consumption
= Gross value added @ factor cost
+ Other tax on production
– Other subsidies on production
= Gross domestic product @ basic price: GDP (I)
+ Tax on products 25 000
425 000 30 000
(25 000)
445 000 15 000
– Subsidies on products (10 000) = Gross domestic product at market price: GDP (I)
Consumer spending by households (C) + Consumer spending by the government (G)
+ Investment (Gross fixed capital formation + changes of stock) (I)
= Gross Domestic Expenditure (GDE)
+ Exports (X) – Imports (M) = Gross domestic product at market price: GDP(E)
Example R million
Consumer spending by households (C) 180 000
+ Consumer spending by the government (G) 120 000
+ Investment (Gross fixed capital formation +
changes of stock) (I) 80 000
= Gross Domestic Expenditure (GDE) 280 000 180 000 (50 000)
+ Exports (X) – Imports (M)
= Gross domestic product at market price: GDP(E)
410 000
Quantity Step 3
Label the Y-axis (vertical) and X-axis (horizontal)
Market for soft drinks
14 12 10 8 6 4 2 0
Quantity Step 6
450 000
Draw the curves with the correct gradient
14 12 10 8 6 4 2 0
Quantity Step 7
Label the curves
Quantity Step 4
Label the origin or point where the axes meet (always at ‘0’)
Market for soft drinks Supply Demand
14 12 10 8 6 4 2 0
Quantity Step 5
Draw the scale of the graph by adding units of measure to the X- and Y-axis
Market for soft drinks Supply (e) Mining Demand Importance
Quantity Step 8
Label important points on the graph, such as the equilibrium
• Provides food • Provides raw materials • Creates employment • Provides skills training • Earns foreign exchange • Stimulates economic growth • Contributes to the GDP • Provides revenue (taxes)
Construction Importance
• Produces consumer goods • Increases self-sufficiency • Creates employment • Provides skills training • Earns foreign exchange • Stimulates economic growth
Finance Importance
• Contributes to the GDP • Contributes to economic growth • Creates employment • Provides skills training
Finance Fishing Electricity
Draw a demand and supply graph to determine the equilibrium point where the demand for soft drinks equals the supply.
Market for soft drinks Step 1 Provide a heading for the graph Market for soft drinks 0
14 12 10 8 6 4 2 0
Step 2
Draw the vertical and horizontal axes with arrow heads
Market for soft drinks Agriculture Manufacturing Accommodation and catering 65.9%
Construction Electricity, gas and water
Tertiary sector Primary sector 12.7% 15.1% Manufacturing 65.9% 12.7% 21.4% Primary sector
Secondary sector
Tertiary sector Secondary sector
industries that convert raw materials into products
Tertiary sector industries that
provide services
Wholesaling and retailing Wholesaling and retailing
Poster 2: Calculation of gross domestic product
Poster 5: How to draw a graph in economics
Poster 7: Primary, secondary and tertiary sectors
BUSINESS AND ENTREPRENEURSHIP
11
PRODUCTS
Price (in Rands)
1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 9 000
10 000 Price (in Rands)
1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 9 000
10 000 Price (in Rands)
1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 9 000
10 000
1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 9 000
10 000 Price (in Rands) Price (in Rands)
Price (in Rands)
3.0%
3.9%
2.4%
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