Answered

3.2 How can an increase in household income affect economic growth?

3.3 How can SMMEs contribute to economic growth in South Africa?

3.4 What effect will a huge increase in electricity costs have on small businesses in South Africa?

3.5 How can the cost of doing business influence the supply of goods and services?

3.6 How does economic growth relate to economic development?

3.7 How do countries in the North contribute to the destruction of the environment?

3.8 Why does the South African government focus on small businesses to promote economic growth?

3.9 What is the effect of increased investment spending on the economy?

3.10 What is the relationship between lower interest rates and the availability of credit?



Answer :

GinnyAnswer

Final answer:

Household income increase drives economic growth, SMMEs boost South Africa's economy, high electricity costs harm small businesses.


Explanation:

An increase in household income can positively affect economic growth by leading to higher consumer spending, which can drive demand for goods and services, resulting in increased production and economic expansion.

SMMEs can contribute to economic growth in South Africa by creating jobs, fostering innovation, and diversifying the economy, leading to increased productivity and overall economic development.

A huge increase in electricity costs can negatively impact small businesses in South Africa by increasing their operational expenses, reducing profit margins, and potentially leading to business closures or downsizing.


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