Socio-Economic Issues, IP Rights & Industrial Relations
Socio-Economic Issues, IP Rights & Industrial Relations is one of 9 topics in the Grade 11 Business Studies CAPS syllabus, covered across 3 lessons on Study Vault. Below are real practice questions from this topic with full worked answers.
Sample practice questions
Easy
1. Which of the following directly reduces the amount of money consumers have available to spend, shrinking demand?
Income inequality and inflation
A business improving its product quality
A business hiring more staff
A business reducing its own prices
Answer: Income inequality and inflation — Income inequality and inflation both reduce disposable income available in the economy, shrinking demand for many goods and services.
Easy
2. What is "dumping" in a business context?
Foreign producers selling goods below normal cost, undercutting local producers
A business disposing of waste illegally
A business closing down permanently
A form of industrial action by employees
Answer: Foreign producers selling goods below normal cost, undercutting local producers — Dumping occurs when foreign producers sell goods in a country below their normal cost, often unfairly undercutting local producers who cannot compete with the artificially low prices.
Medium
3. Name ONE socio-economic issue mentioned in the lesson that makes it harder for a business to find suitably qualified staff.
Answer: Illiteracy — Illiteracy and a lack of skills in the workforce make it harder for businesses to find suitably qualified staff, often forcing investment in internal training.
