O-LevelEconomicsEconomic development2281/12 · May/June 2014 · Q101 Mark
In South Africa, the rate of consumer spending is relatively high compared with other developing countries. However, the unemployment rate is high at 25% and only 27% of students complete the 12 years of basic education. As a result, what is also likely to be found in South Africa?
Ahigh average standard of living
Bhigh current rate of savings
Chigh level of debt among consumers
Dhigh supply of skilled workers
✓ Correct answer
C: high level of debt among consumers
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