contemporary economic issues grade 11 essay

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T1 W4 Gr 11 Business Studies Lesson: Contemporary Socio Economic Issues

2021 FET Term 1 Week 4 Gr 11 Business Studies Lesson: Contemporary Socio Economic Issues

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Contemporary Economic Issues Essay

The 2008 global financial crisis cause a panic on the consensus on how to run macroeconomic policy. Reminding the world of the risks the financial sector imbalances are associated with. Showing the boundaries of monetary policy can cast uncertainty on some of the views of its intellectual foundations. The basic reason for financial crises is that they originate due to an excess that is frequently monetary excesses. This leads to a boom and an unavoidable bust. The 2008 crisis was not different, a boom accompanied by a collapse led to defaults. The downfall of loans and mortgage-related securities at financial institutions resulted to a financial disorder. The Lehman crisis first showed how much policy makers had misapprehended the dangers posed by the financial system and showed the limits of monetary policy. The euro area which affected and it needed to rethink the working of currency mergers and fiscal policy, by improvising with the use of alternative monetary policies to the original fiscal incentive.

Monetary policy protects the government changes in either the supply of money or interest rates. These policies are usually implemented by the central bank of the country or area. The focus of monetary policy and the roles it plays in the financial system and its inferences for macroeconomic developments, policy during the crisis have led to new queries on old matter, how inflation and output relates, with direct effects to monetary policy. The foundation to the interference of credit flows was as a result of asset price bubble of the housing price boom. It asset boom was referred to as a mania. The saying however, is confusing, why regular people become keen buyers of anything has become the aim of desire. An asset boom is circulated by an extensive monetary policy that lowers interest rates and encourages borrowing beyond sensible bounds to obtain the asset. The federal government accommodated the crisis from 2001 and was too slow to tighten the monetary policy, delayed controlling till June 2004 and then ending the monthly 25 base point increase in august 2006. Interest rate cuts began on august 10 2007, and worsened in an extraordinary 75 basis point decrease in January 2008. It publicized an unprepared video talk conference a week before a planned federal open market committee assembly. There was little increase in the interest rates in 2004 so it ended soon than expected (Schwartz, 2009).

In the situation of housing boom, the government played a role in motivating demand for houses by persuading the benefits of home possession for the well-being of people and families. Freddie Mac and Fannie Mae were established as government-funded enterprises. Congress pushed Fannie Mae and Freddie Mac at the beginning of 1992 to increase their mortgage purchases to low income borrowers. Plain targets were being given to the enterprises by the department of urban and housing development. In 1996, 42 percent of its mortgage financing went to mortgagors who were below the median income in their region. In 2008 the aim was to attain a 28 percent, and during 2000-2005 the enterprises were able to achieve that. Freddie and Fannie bought billions of dollar worth of securities for their own collections to make money and help satisfy the housing and urban development affordable housing goals. The enterprise was an important contribution to the demand for subprime securities. Regrettably, the approach remains at the core of the political process, and of proposed solutions to the crisis (Roberts 2008). One of the ways in dealing with the monetary policy problem would be, expanding the policy through advertising the housing price boom. Alan Greenspan (2008) argued that if the central bank had terminated the asset price boom, it would have immersed the economy in a recession which the public in a democracy wouldn’t stand for. He didn’t explain why the Federal Government could not have lead a less extensive monetary policy that did not reduce interest rates to a level that allowed mortgage borrowing and lending seemed less risky and caused house price increases.

Price boom in housing could have been prevented if monetary policy had more restriction(coin 2001). Fiscal involves changes in taxation and government spending. A government can intentionally change tax rates and level of government spending to influence economic activity. When monetary policy faces liquidity trap, the government usually turns to fiscal stimulus to sustain demand to avoid what could become a great depression. But, when the risk appears to be moderate, they still find themselves left with a high public debt. At the beginning of the crisis, the median GDP ratio in united states economic was close to 42 percent and was still increasing in 1996 and its target increased to 50 percent in 2000 and 52 percent in 2005, due to political class greed which pushed home-ownership rates to a higher rate. This was during the Bill Clinton and George W. Bush’s reign, assisted by the congress, announcing that rise as it occurred. And the result was that it put the entire financial system as risk; the concealed costs were hundreds of billions of dollars channeled into the housing market instead of more productive assets. If fiscal deliberation, through great revenue or lower spending was not possible, low or negative real interest rates could in principle help to maintain debt sustainability. It is vital that monetary policy decision continue to be under the sole view of the central bank, without political interference. Likewise, the central bank should base its decision on the way the debt situation and fiscal adjustments would impact inflation, output and financial stability. The awareness by the public that the government’s involvement plan had not been well thought through, and the official story that the economy was tanking, might have led to the panic seen during the crisis period. To avoid misguided actions in future, it is necessary that we go back to thorough principles of monetary policy, centering government interventions on clearly stated diagnoses and predicted agendas for government actions.

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Demand concept explains the quantities of goods that buyers are ready to buy at various prices at different period of time, other things being equal.  Whereas the supply describes the amount of goods suppliers are willing to sell at different prices and at different period of time other things being equal.  The equilibrium point will be achieved when the output level and price level of both the aggregate demand and supply meet.  If price level of a product is below the center point, the excess demand would push the price level back to the equilibrium level. Also if the price is beyond the center point, the excess goods and services will not be sold. Leaving the sellers no choose but to cut their prices. In the short run, a rise in aggregate demand resulting to an increase in government spending will probably increase production and raise the price level. Long run aggregate supply is the output which organizations would produce after the price level and factor prices have fully adjusted after any shift in aggregate demands. And it has a perfectly elastic curve. GDP know as Gross Domestic Product is a broadly used measure of a nation’s income. If refers to the home economy and products means output. GDP can be measured using the output, income and expenditure methods. They usually give the same total because they all measure the flow of income produced in an economy.

Unemployment occurs when people are able to work but they cannot find job. And it can bring with it serious problems both for those who are unemployed and for the country. The government measures unemployment with two methods, the first measuring the number of people in receipt of unemployment-related benefits also called the claimant count. It is really and cheap to calculate. The second involves a labor force survey using the international labor organization definition of unemployment. Inflation is situation in the economy where there is a general increase in price of goods. In this case there is so much circulation of money in the economy. The consumer price index is a widely the best measure of inflation, it helps to measure inflation as experience by consumers in their daily expenses. Economic growth occurs when an economy achieves an increase in its national income, measured by Gross National Product (GNP), in excess of its rate of population growth.

Economic development shows how well a country is developing, indicators of comparative development, its economic structure, population growth and population structure and classification according to levels of indebtedness. All the factors can tell how well developed an economy is. Business cycle is the regular swings in economy activity that occur in most economies varying from boom conditions to recession, when total economic outputs declines.  Several factors can influence a business cycle, overheating boom with the help of inflation can lead the economy into a recession, finally achieving slump. But policies, deflationary strategies can bring the economy back to growth transcending to the overheating boom. The multiplier effect shows a tendency for a change in aggregate expenditure to result in a greater rise in GDP. This effect occurs because a rise in expenditure will create incomes, some of which will income, some of which will, in turn, be spent and thereby create more income. For instance, if people spend 80percent of any extra income, an increase of government spending of $200 million will cause a final rise in GDP of $1,00m. This is because the initial $20million spent will create higher income. Macroeconomics has great impact in politics, society and people. It helps institutions, government to better understand the working economy. Economic problems are related to behavior of total income, output, employment and the general price level in the economy. Another great impact are its variables are statistically measurable they facilitating the possibilities of analyzing the effects on the functioning of the economy. It gives a bid eye view of the economic world.

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Socio-economic Issues Essay Grade 11 Learning Materials

• Jun 14, 2023
• 1. Overview of Important Socio-Economic Issues
• 2. Business Solutions to Deal with Socio-Economic Issues
• 3. Industrial Actions
• 4. Labour Relations Act
• 5. Description of the Term “Trade Unions”
• 6. History of Trade Unions
• 7. Role of Trade Unions
• 8. Functions of Trade Unions
• 9. Download Socio-economic Issues Essay Grade 11 PDF

As Grade 11 learners, it is essential to develop a comprehensive understanding of the socio-economic issues that shape the world we live in today. These issues encompass a wide range of challenges arising from the complex interaction between society and the economy. In this essay, we will explore several important socio-economic issues and delve into business solutions, industrial actions, and the role of trade unions in addressing these challenges.

To begin, we will provide an overview of significant socio-economic issues that impact individuals, communities, and nations. These issues include income inequality, unemployment, poverty, education disparities, healthcare accessibility, and social justice. Understanding these challenges is crucial for developing a broader perspective on the interconnectedness between economic systems and social well-being.

Next, we will examine the role of businesses in dealing with socio-economic issues. Companies have the potential to contribute positively to society through initiatives such as corporate social responsibility (CSR). We will explore how businesses can implement sustainable practices, invest in community development projects, and promote fair wages and inclusive work environments. By doing so, businesses not only contribute to economic growth but also address pressing socio-economic concerns.

In addition to business solutions, we will explore the concept of industrial actions. These actions, such as strikes and protests, are employed by workers and trade unions to negotiate better working conditions, wages, and treatment. We will examine the importance of collective bargaining and how industrial actions can influence employers to address workers’ concerns. It is crucial to understand the impact of these actions on both workers and the broader economy.

To provide a legal framework for labor relations, we will discuss the Labour Relations Act. This legislation governs the relationship between employers, employees, and trade unions. Understanding the provisions of this act is essential to comprehend the rights and responsibilities of all parties involved and the mechanisms in place for resolving labor disputes.

Lastly, we will explore the history, description, and role of trade unions. These organizations have played a vital role throughout history in advocating for workers’ rights and addressing socio-economic issues. We will delve into the historical context in which trade unions emerged and the milestones they achieved. Additionally, we will discuss the functions of trade unions, including collective bargaining, representation of workers, lobbying and advocacy, training and skill development, health and safety advocacy, and social welfare initiatives.

By examining these various aspects of socio-economic issues, business solutions, industrial actions, and the role of trade unions, Grade 11 learners can gain a deeper understanding of the complexities of our economic and social systems. This knowledge will empower them to critically analyze and contribute to discussions on important societal matters, fostering a sense of social responsibility and encouraging them to become active participants in shaping a more just and equitable future.

Overview of Important Socio-Economic Issues

Socio-economic issues are complex challenges that arise from the interactions between society and the economy. They encompass various aspects of people’s lives, including income, employment, education, healthcare, poverty , inequality, and social justice. These issues have a significant impact on individuals, communities, and nations as a whole. In this essay, we will explore some of the most important socio-economic issues, as well as business solutions, industrial actions, and the role of trade unions in addressing these challenges.

Business Solutions to Deal with Socio-Economic Issues

Businesses play a crucial role in addressing socio-economic issues, as they are major contributors to economic growth and employment. Many companies recognize the importance of corporate social responsibility (CSR) and actively seek to mitigate the negative impact of their operations on society. They implement sustainable practices, invest in community development projects, and promote diversity and inclusion within their workforce.

Moreover, businesses can contribute to economic development by creating job opportunities, offering fair wages, and providing skill development programs. By prioritizing ethical business practices and responsible supply chains, companies can contribute to the overall well-being of society and help alleviate socio-economic issues.

Industrial Actions

Industrial actions, such as strikes and protests, are often employed by workers and labor unions to address socio-economic issues. When employees are dissatisfied with their working conditions, wages, or treatment, they may resort to collective action to negotiate with their employers. Strikes can disrupt business operations and put pressure on employers to address the concerns of the workers.

While industrial actions can be disruptive, they are an important means for workers to exercise their rights and advocate for better working conditions. It is essential for both employees and employers to engage in meaningful dialogue and find mutually beneficial solutions to prevent prolonged conflicts that can negatively impact the economy and society at large.

Labour Relations Act

The Labour Relations Act (LRA) is a significant piece of legislation in South Africa that governs labor relations and protects the rights of both employers and employees. Enacted in 1995, the LRA aims to promote fair labor practices, maintain industrial peace, and create a conducive environment for productive employment relationships.

The LRA provides a framework for collective bargaining between employers and trade unions, allowing them to negotiate employment terms and conditions, such as wages, working hours, and benefits. It recognizes the right of workers to form and join trade unions, as well as the right to strike, provided certain procedural requirements are met. The Act also sets out mechanisms for resolving disputes, including mediation, conciliation, and arbitration, to ensure fair and efficient resolution of conflicts between employers and employees.

Furthermore, the LRA establishes various institutions and bodies to enforce its provisions and regulate labor relations. These include the Commission for Conciliation, Mediation, and Arbitration (CCMA), which facilitates dispute resolution, and the Labour Court, which adjudicates labor-related matters. These institutions play a crucial role in upholding the principles of fairness, equity, and justice within the labor market.

The LRA has undergone amendments over the years to align with evolving labor market dynamics and promote social justice. It strives to strike a balance between protecting the rights of workers and enabling businesses to operate efficiently and sustainably.

Overall, the Labour Relations Act in South Africa serves as a vital legal framework that safeguards the rights of workers, promotes collective bargaining, and provides mechanisms for resolving labor disputes. It plays a pivotal role in maintaining harmonious and productive labor relations, contributing to the social and economic development of the country.

Description of the Term “Trade Unions”

Trade unions are organizations formed by workers to protect and advance their collective interests. They represent workers in negotiations with employers, advocate for better wages and working conditions, and protect workers’ rights. Trade unions operate in various sectors and industries, representing workers from different occupations, such as manufacturing, services, healthcare, education, and transportation.

Trade unions play a vital role in balancing power dynamics between employers and employees. They provide a collective voice for workers, allowing them to negotiate fair wages, safe working conditions, and other employment benefits. By advocating for workers’ rights and addressing socio-economic issues, trade unions contribute to creating a more equitable and just society.

History of Trade Unions

The history of trade unions in South Africa is deeply intertwined with the country’s struggle against racial discrimination, economic inequality, and social injustice. Trade unions emerged as vital platforms for workers to unite and advocate for their rights during the challenging times of apartheid.

In the late 1800s, as South Africa underwent industrialization, workers, particularly those in mining and manufacturing sectors, faced harsh working conditions, exploitative practices, and unequal treatment based on race. In response to these grievances, workers began organizing themselves into trade unions to confront these socio-economic challenges collectively.

One of the significant milestones in South Africa’s labor history is the formation of the South African Trades and Labor Council (SATLC) in 1918. The SATLC aimed to unite workers across racial lines and fought against discriminatory labor policies that favored white workers over their black counterparts. Despite the challenges of racial segregation, the SATLC played a crucial role in amplifying workers’ voices and advocating for better wages, improved working conditions, and fair treatment for all workers.

The 1940s and 1950s witnessed the growth of trade unions representing various racial and occupational groups, such as the African Mine Workers’ Union (AMWU), the Food and Canning Workers’ Union (FCWU), and the Garment Workers’ Union (GWU). These unions united workers across racial lines, challenging the divisive policies of the apartheid government and striving for a more equitable society.

The 1970s and 1980s marked a turning point in South Africa’s labor movement. Trade unions, such as the National Union of Mineworkers (NUM) and the Congress of South African Trade Unions (COSATU), emerged as powerful forces in the struggle against apartheid. They organized strikes, protests, and boycotts, demanding equal rights, improved working conditions, and an end to racial discrimination. The trade union movement played a vital role in mobilizing workers and building alliances with other anti-apartheid organizations, ultimately contributing to the dismantling of apartheid and the birth of a democratic South Africa.

After the end of apartheid, trade unions continued to be significant actors in South Africa’s labor landscape. They focused on addressing socio-economic issues such as unemployment, poverty, income inequality, and worker rights protection. Trade unions actively engage in collective bargaining, participate in policy-making processes, and advocate for the rights and well-being of workers across various sectors.

Today, trade unions in South Africa, such as COSATU, National Education, Health, and Allied Workers’ Union (NEHAWU), and National Union of Metalworkers of South Africa (NUMSA), continue to play a critical role in safeguarding workers’ interests and promoting social justice. They strive to create fair working conditions, protect job security, and address the ongoing challenges faced by workers in a rapidly changing economic landscape.

Role of Trade Unions

The role of trade unions extends beyond protecting the rights of individual workers. They serve as collective bargaining agents, negotiating with employers on behalf of their members to secure favorable employment terms and conditions. Trade unions strive to ensure fair treatment, non-discrimination, and equal opportunities for all workers.

Trade unions also play a crucial role in promoting social justice and advocating for societal change. They often engage in political activism to influence labor laws and policies that impact workers’ rights. By mobilizing their members and using their collective voice, trade unions can address socio-economic issues such as income inequality, workplace safety, and job security.

Functions of Trade Unions

Trade unions perform several functions to address socio-economic issues and protect workers’ interests. These functions include:

Collective Bargaining: Trade unions engage in negotiations with employers to establish collective agreements that outline terms and conditions of employment, including wages, working hours, and benefits.

Representing Workers: Trade unions act as representatives and advocates for their members, providing support and assistance in workplace matters, including dispute resolution and grievances.

Lobbying and Advocacy: Trade unions actively participate in political processes to influence legislation and policies that affect workers’ rights, social welfare, and economic equality.

Training and Skill Development: Trade unions often provide training programs and educational resources to enhance the skills and employability of their members.

Health and Safety Advocacy: Trade unions work to ensure safe and healthy working environments by advocating for workplace safety regulations, training programs, and appropriate protective measures.

Social Welfare Initiatives: Many trade unions engage in community development activities, including providing support for marginalized groups, promoting social inclusion, and addressing broader socio-economic issues.

Download Socio-economic Issues Essay Grade 11 PDF

In conclusion, socio-economic issues are multifaceted challenges that require collective efforts to address effectively. Businesses have a significant role to play in promoting sustainable practices and contributing to economic development. Industrial actions, guided by labor laws such as the Labour Relations Act, allow workers to voice their concerns and negotiate for better conditions. Trade unions have a long history of advocating for workers’ rights and addressing socio-economic issues. They serve as vital representatives, negotiators, and agents of change in promoting fair treatment, social justice, and economic equality for workers. By understanding and addressing these important socio-economic issues, societies can strive towards a more inclusive and equitable future.

• # Apartheid
• # Congress of South African Trade Unions
• # Corporate social responsibility
• # Economic inequality
• # Racial segregation
• # South Africa
• # Trade union

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Contemporary Economic Issues

In the eyes of Wren-Lewis, the government’s pursuit of austerity in 2010 delayed the economic recovery and might have cost the UK 5% of GDP or an equivalent of £1500 per person. Wren-Lewis believes the coalition’s decision regarding austerity was unnecessary and unwarranted as it gave rise to lower growth which in turn resulted to delayed rises in tax increments. In addition, the austerity was uncalled for because interest rates stood at 0% while demand for government bonds shot high. However, Wren-Lewis deliberates that delaying budgetary changes up until the recovery process strengthened could have averted the double dip downtown and still foster the government to reduce debt to GDP in the long run (Calmfors and Wren‐Lewis, 2011:649). Wren-Lewis argues that the UK’s delayed recovery over the larger part of the coalition government’s term was correlational to the government’s fiscal decisions. As such, it will take many years before economists can settle on a number or figure that can best measure up the cost of that mistake.

When the Labor government assumed power in 1997, the Bank of England was made independent. In addition, it introduced a new stature or framework for aggregate fiscal policies. Although most macroeconomists viewed these changes as progressive, Wren-Lewis argues that the transparency and fiscal rules that came along with the changes were practically close to best. In the same vein, when the Coalition government assumed power in 2010, it set forth critical institutional reforms as well; creation of the Office of Budget Responsibility (Wren-Lewis, 2013:25). The backdrop of Wren-Lewis’ claim is based on the fact that the Coalition government made the fiscal decisions at a time when the interest rates were at ‘Zero Lower Bound’ (ZLB): 0.5%. In essence, getting the economy back on track must have taken time and formulation strategies that would kick start it back to its previous level such as that of 1997 when the interest rate was above 6%.

The delay illustrated by Wren-Lewis in his statement was conceived by the government’s inability to counter the deflationary force brought about by the Coalition government’s policy on sharp fiscal consolidation (Wren-Lewis, 2013:31). Irrespective of the fact that fiscal austerity was put on hold to some extent in 2012, the damage had already been done. From a conservative’s point of view, it is estimated that about 5% of the country’s GDP was already lost permanently following that mistake which in turn produced the least recovery ever recorded in the UK. While basing his arguments on the Keynesian perspective, Wren-Lewis points out that the delay followed the large government deficits which prompted the OBR to introduce a counteractive hedge that would increase private sector saving. With the increased government debt, it was possible for the private sector to save as the situation provided the latter with the additional financial assets required for private sector saving.

According to Wren-Lewis, the 2010 fiscal policy delayed in the UK since it switched from supporting demand in the Keynesian way to focusing on deficit reduction. In fact, the delay was imminent as this change of focus was not going to affect the UK alone but also the Eurozone where a crisis of its own was looming and spreading rapidly to other countries. The switch from fiscal stimulus advocacy in 2009 to austerity in 2010 dwindled the Coalition government’s quest for spontaneous growth. In addition, the OBR thought that austerity would reduce demand and foster active monetary policy just as it the case with the New Keynesian models. However, this aspect backfired and ended up being a costly affair for the Coalition government. Note that, the Coalition government’s fiscal mandate would have worked positively were they to be implemented in normal times (Calmfors and Wren‐Lewis, 2011:654).

The tragedy for the UK economy as well as the Coalition government was enacting the fiscal policies at a time when interest rates stuck at ZLB. In effect, it was mistaken to target current balance instead of the deficit thus it excluded public investment. Nonetheless, it is crucial to note that this aspect presented the Coalition government with the opportunity to keep public investment high in order to support the recovery but unfortunately, the Coalition did not uptake it but instead cut public investment sharply. This, in return, led to the delay Wren-Lewis discussed in detail. The introduction of fiscal austerity at a time when interest rates had plummeted to their all-time low was knowingly going to delay recovery. The forecast outlined by OBR in 2010 sounded too optimistic which meant that the monetary policy was going to rely untested and unconventional tools such as Quantitative Easing (QE) in order to see the recovery process back on track (Wren-Lewis, 2013:45).

Since inflation rose sharply in 2011, it is counter-argued that there could have been no positive impacts on GDP. Nonetheless, this argument should not be used as an excuse for this mistake as heightened inflation was not forecasted in 2010. A cumulative GDP loss of 5% might be lower than the resources wasted following the adoption of austerity. With a sharp rise in inflation, a delay was inevitable in the first part of the Coalition government (Heald and Georgiou, 2011:217). In particular, the economy was not going to start growing at once upon the OBR’s adoption of austerity measures and as such, the mistake could not have been averted the moment austerity measures were set in place.

Is the case for expanding public investment as strong now as it was in 2010?

Economies tend to keep on growing unless they keep being hit by adverse conditions and shocks. As of today, the case of expanding public investment is stronger than it was in 2010. In actual understanding, the proponents of fiscality fail to explain why the recovery process of the UK strengthened gradually over the last 6 months given that the pace of fiscal consolidation is still at its usual rate while the government cuts are progressing just as planned. Normalizing economic activities after austerity was going to be tough but expanding public investment grew stronger as from 2010 (Buisson, 2013:59). Indeed, the government’s change of course and reduced structural pace of consolidation predicted stronger growth just as analyzed by the proponents of fiscality.

It is difficult to understand why the austerity mistake was made given that the IMF was opposed to it in 2009. Recovering an economic depression for the UK was not an easy task and investment was cut back greatly in the first two years of the Coalition government. It is unrealistic as to why the Chancellor was proposing an extended period of austerity after 2015 irrespective of the fact that interest rates still remain at the ZLB. The case for expanding public investment is today debatable, especially when compared with the way it was in 2010 (Heald and Georgiou, 2011:233). Generally, the case for expanding public investment is strong now as it was in 2010 following reduced borrowing and filled the gap of debts.

In conclusion, the Coalition government presented two paramount fiscal policy innovations that could be viewed as progressive. For one, establishing the OBR and the subsequent adoption of a primary fiscal mandate that would have been a suitable framework were it enrolled in normal times. Tragedy struck when the Coalition and the UK economy were mandated to implement a sharp fiscal contraction at a time when it should not have been as interest rates had sunk to their ZLB.  In view of mainstream macroeconomic analysts, the panicking that was created by the Eurozone crisis led to the unwarranted delay. Upon analyzing the state of economy since the Great Recession, it can be deduced that the delay in the UK recovery that was experienced in the first part of the Coalition resulted from the government’s fiscal decisions (Buisson, 2013:62). In the paper, I have argued that these decisions were uncalled for, unwarranted and resulted in a mistake that cost the UK immensely. In effect, it will take the UK many years to settle on a figure that can best describe the much the government has lost following this mistake. It will also prove to be time-consuming to measure the influence of welfare to citizens with respect to making fiscal decisions in a time of peace. The case for expanding public investment is not as strong now as it was in 2010 and this has been deliberated by the foreseeable changes in the effects of the fiscal decisions made by the Coalition government.

• Buisson, A. 2013. From PFI to PF2: The reform of the public private partnership model in the UK . London: Norton Rose Fulbright LLP.
• Calmfors, L. and Wren‐Lewis, S. 2011. ‘What should fiscal councils do?’  Economic Policy , vol. 26(68), pages 649-695.
• Heald, D. and Georgiou, G. 2011. The substance of accounting for public-private partnerships’, Financial Accountability & Management , Vol.27 (2), pp.217-247.
• Wren-Lewis, S. 2013. ‘Aggregate fiscal policy under the Labour government, 1997–2010’,  Oxford Review of Economic Policy ,, vol. 29(1), pages 25-46, SPRING.
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Grade 11 BS, Term 1, Chapter 03 – Contemporary Socio-Economic Issues

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This is a set of 3 PowerPoint presentations for Grade 11, Term 1 Business Studies, covering Chapter 3, “ Contemporary Socio-Economic Issues.” With a beautiful modern layout and high-quality images, these presentations bring the content to life, enhancing understanding and interest. Based on official Department of Basic Education (DBE) notes and reorganized for clarity, the lessons encourage interaction through discussion prompts and activities, contributing towards your weekly activity targets. They are ideal for a dynamic and visually appealing learning experience.

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