Q1 MCQ Drill: 2019 Economics P2 (2019 NSC October/November National Examination)

Economics Past Paper Question 1 Drill Level 1: Knowledge & Recall

12:00

8 multiple-choice questions taken verbatim from Section A of the official 2019 NSC October/November National Examination Economics Paper 2, auto-marked against the official marking guideline. Questions that rely on diagrams or graphs are excluded - see the full paper for those.

Question 1 of 8 2 Marks

A characteristic of monopolistic competitors is that they …

A. produce a homogeneous product.

B. obtain economic profits in the long run.

C. have full control over the price.

D. can easily enter and exit the market.

Question 2 of 8 2 Marks

A social benefit is the sum of private benefit and …

A. external benefit.

B. internal benefit.

C. private cost.

D. marginal cost.

Question 3 of 8 2 Marks

The supply curve of the oligopolistic competitor is … sloped.

A. negatively

B. horizontally

C. positively

D. vertically

Question 4 of 8 2 Marks

In any market the average revenue is the same as the ….

A. price.

B. marginal revenue.

C. supply.

D. profit.

Question 5 of 8 2 Marks

During stagflation a country experiences low economic growth and … at the same time.

A. high employment

B. high unemployment

C. low inflation

D. limited development

Question 6 of 8 2 Marks

The agreement to ban 12 of the most dangerous manufactured chemicals was addressed by the …

A. Basel Convention.

B. Stockholm Protocol.

C. Johannesburg Summit.

D. Kyoto Protocol.

Question 7 of 8 2 Marks

Which of the following is an example of an environmental World Heritage Site?

A. Sterkfontein Caves

B. Robben Island

C. Cape Fynbos Region

D. Vredefort Dome

Question 8 of 8 2 Marks

Natural resources are managed in such a way that it is available to present and future generations:

A. Preservation

B. Pollution

C. Renewal

D. Conservation

Q1 MCQ Drill: 2019 Economics P2 (2019 NSC October/November National Examination)

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