Q1 MCQ Drill: 2018 Economics P2 (2018 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 2018 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

Unit cost is also known as … cost.

A. marginal

B. total

C. average

D. variable

Question 2 of 8 2 Marks

The nature of the product traded in a pure oligopoly is …

A. differentiated.

B. homogenous.

C. heterogeneous.

D. unique.

Question 3 of 8 2 Marks

The term 'long run' refers to a period where … factors of production can change.

A. both variable and fixed

B. only variable

C. only fixed

D. floating

Question 4 of 8 2 Marks

A fresh-produce market is a good example of a/an … market structure.

A. monopolistic competitive

B. monopoly

C. perfect competitive

D. oligopoly

Question 5 of 8 2 Marks

The Minister of … is responsible for fiscal policy to stabilise the economy.

A. Tourism

B. Finance

C. Trade

D. Environmental Affairs

Question 6 of 8 2 Marks

The government can levy a/an … tax on environmental polluters.

A. import

B. personal income

C. consumption

D. green

Question 7 of 8 2 Marks

The tourism industry is … intensive.

A. capital

B. money

C. technology

D. labour

Question 8 of 8 2 Marks

The granting of a licence to businesses that allow them to pollute up to a certain degree is referred to as …

A. marketable permits.

B. legislation.

C. taxable permits.

D. licencing.

Q1 MCQ Drill: 2018 Economics P2 (2018 NSC October/November National Examination)

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