Fluctuations in economic activity that are caused by forces inside the market system are regarded as a/an … business cycles.

The sum of marginal propensity to consume (mpc) and marginal propensity to save (mps) in a two-sector model is equal to …

When government departments follow too many rules and procedures at the cost of quality service delivery, it is known as …

When a country produces more output than other countries given the same input, it is referred to as a/an … advantage.

An import duty that is levied as a fixed amount per unit, weight or size of imported goods is called a/an … tariff.

The South African government ensures a more equitable redistribution of income by using a … tax system.

The industrial development strategy that focuses on improving competitiveness in production is known as the …

The economically active population consists of people between the ages of …