Economics Grade 11

Economics learners will be able to:

• use resources efficiently to satisfy the competing needs and wants of individuals and of society;

• understand the concept of monetary and real flows in an open economy within the confines of production,

consumption and exchange;

• develop skills to apply demand and supply, and cost and revenue analyses to explain prices and production

levels;

• understand reconstruction, growth and development, as well as a critical approach to initiatives for a fair

distribution of income and wealth, human rights, and responsibilities;

• acquire an advanced Economics vocabulary that will allow them to debate and communicate the essentials of

the subject;

• apply, in a responsible and accountable manner, principles that underlie basic economic processes and

practices;

• explore a variety of methods and strategies to analyse and explain the dynamics of markets;

• collect, analyse and interpret production, consumption, and exchange data as well as other information in

order to solve problems and make informed decisions;

• understand human rights concerns, reflect on the wealth creation process, and engage in poverty alleviation;

• analyse and assess the impact of local and global institutions on the South African economy, and

• explain economic events and forecast their consequences or predict likely future outcomes.