Fiscal Budget Of South Africa - Economics Assignment Help

Assignment Task

Formative Assessment

1. Describe the techniques and metrics that could be used to analyse the fiscal budget of any country against the objectives of a country's fiscal policy.

2. Apply the techniques and metrics you have described in question1 to the most recent national fiscal budget of South Africa and then identify the potential future economic situation that your analysis reveals. You will have to do research to access the details of the national budget. Specially describe the consequences for the South African economy of the rising level of State debt.

3. Given the situation that your analysis has revealed what are the prudent measures that a business (specify the type of business) should take to either protect itself from the adverse effects or to take advantage of the opportunities.

Guidelines: Your answer should show clear and critical thinking, good communication skills (check on Grammarly). This assessment requires that you do research. Pease reference you sources for the data as well as any quotations or sources that you use.

Answer the following short-form questions in a maximum of 50 words per answer on average.

4. List five strengths or advantages of the South African economy that could be useful in improving South Africa's current economic Position.

5. Describe at least five characteristics essential for a free market system to optimize the supply and distribution of goods arc services.

6. Describe the features of the price mechanism that makes it work in driving an economy.

7. You have established that the elasticity of demand for a manufactured product is 3.0. The marketing department has taken the decision to lower the price by 6%. Describe the quantitative advice that you should give to the logistics department regarding the change in the volume of goods they will need to transport to customers because of the marketing departments posing decision.

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