Question 1 45 marks Read the following extract and answer the
questions that follow: Analysis of...
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Economics
Question 1 45 marks Read the following extract and answer the
questions that follow: Analysis of the non-linear effect of petrol
price changes on inflation in South Africa Year 2020, Volume: 12
Issue: 1, 34 - 49, 19.02.2020 AS Hassan and DF Meyer In the South
African economy, the phenomenon of high levels of inflation coupled
with low levels of economic growth has been experienced over the
last decade. In addition to this, the relatively high levels of
inflation could be related to rising costs (cost-push inflation)
rather than consumer demand (demand push inflation). One of the
factors that contributes to costs and rising inflation in South
Africa is fuel or petrol costs. Source: Hassan, A.S. and Meyer,
D.F., 2020. Analysis of the non-linear effect of petrol price
changes on inflation in South Africa. International Journal of
Social Sciences and Humanity Studies, 12(1), pp.34-49. In reference
to the above case study, examine the potential factors that are
likely to influence fuel prices. Provide specific examples in your
response.
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