2.1 The following question is based on the extract below: News extract 2A Statistics South...
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2.1 The following question is based on the extract below: News extract 2A Statistics South Africa revised third quarter growth to 1.8% quarter on quarter, from a previous estimate of 1.6%, but the country will tip into recession - defined as two consecutive quarters of falling GDP - if it contracts again in the current quarter. Seven of the 10 industries tracked by Statistics South Africa shrank in October-December, with agricultural cutput falling 3.3% quarter on quarter, mining 3.2%, finance 2.3%, trade 2.1% and manufacturing 0.9%. Struggling state electricity utility Eskom's scheduled power cuts, caused by breakdowns at its ageing fleet of coal-fired power plants, have meant up to 10 hours a day without power in recent months, hurting businesses of all sizes. Source: Reuters. htlps:I/www.reulen comwworidiafricaisouth-african-economy-oontracts-13-qq-fourth-quarter-2023-03-07/ [Accessed 14 Oclober 2023] With the aid of a diagram, explain how the money market in South Africa will be affected by the abovementioned changes in economic activity. The direction of any changes should be clearly indicated by using arrows. (4)
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