Economics P1 November 2022 SECTION A 1.2

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• income and expenditure between the participants in the economy
• maintains that markets are inherently unstable and economic fluctuations are caused by internal factors
• a document that sets out the government’s expected expenditure and income over a three-years period
• an item in the balance of payments that caters for any omissions, mistakes and errors in the balance of payments
• production of a wide range of goods and services
• refers to the world’s developed countries and developing countries
• focuses on using science and technology to promote and expand industrialisation
• the price paid by commercial banks for borrowing money from the South African Reserve Bank
• maintains that markets are inherently stable and economic fluctuations are caused by external factors