ECONOMICS GR 11 LO 2: Know the types of income of the owners of resources

DATA RESPONSE EXERCISE

QUESTION 1: IDENTIFY THE INCOME OF OWNERS OF RESOURCES FROM 1-4

1.

2.

3.

4.

1.__________________ 2.________________

3.________________ 4.___________________

1. What does GDP mean(definition)_____________________________________________ ______________________________________________________________________________ 2. What income was the highest contributor to GDP for the period 2008- 2011? ______________________________________________________________________________ 3. Calculate Net operating surplus,net mixed income % contribution of GDP in 2008 and 2011.

2008=________________________________2011=_________________________________ 4. Calculate the contribution of Labour and Capitals as a % of GDP in 2011.

Labour:___________________________

Capital:____________________________ 5. Countries keep record of its GDP and use the statistics of Real GDP because its an economic indicator of________________________________. 6. Do a piechart of GDP of 2011, using Exel software.
Formative assessment task

Subject: Economics Theme: Factor markets

Grade: 11

Learning objectives: Know the types of income of the owners of resources Criteria: A -Knowledge and Understanding Students do Research and complete Worksheet Conclusion Working towards Not Achieved

Descriptors Achieved

Achieved

Working towards

Not Achievd

The student can:

Learning objectives

Identify the income of owners of resources

Criteria

Give a definition of the term Can identify the high contributor of GDP Calculate the highest contributor to GDP Can calculate labors contribution Can calculate the capitals contribution Can safely enter data into Excel and create diagram