Term 1 covers factors of production, circular flow and quantitative elements (economic goods and services), economic systems (including mixed economy), and the economic structure of South Africa, followed by revision and assessment.
The ATP lists a June examination in Term 2 with two papers (150 marks each, 2 hours each), following Term 2 market dynamics topics and the revision and assessment period.
Term 2 covers relationships between markets, effects of costs and revenue, and price elasticity, with graphs used to explain and illustrate concepts.
The ATP schedules economic growth, economic development, and money and banking in Term 3, followed by revision and assessment.
Term 4 covers globalisation and environmental deterioration/sustainability, followed by revision and assessment with Paper 1 and Paper 2 topic structures listed in the ATP.