Q1 MCQ Drill: 2018 Economics P1 (2018 NSC May/June Mid-Year Examination)

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

11:00

7 multiple-choice questions taken verbatim from Section A of the official 2018 NSC May/June Mid-Year Examination Economics Paper 1, 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 7 2 Marks

The practice of selling goods in a foreign country at lower prices than in the country of origin is known as …

A. exportation.

B. dumping.

C. importation.

D. import substitution.

Question 2 of 7 2 Marks

Savings flow back into the circular flow as …

A. investments.

B. government spending.

C. exports.

D. imports.

Question 3 of 7 2 Marks

The new economic paradigm that relates to the smoothing of business cycles is rooted in … policies.

A. public relations

B. trade

C. international

D. demand-and-supply side

Question 4 of 7 2 Marks

When import duties are imposed as a percentage of the value of the imported goods, it is known as … duties.

A. composite

B. specific

C. ad valorem

D. average

Question 5 of 7 2 Marks

The interaction of economies with trade as an important element is known as …

A. privatisation.

B. globalisation.

C. entrepreneurship.

D. export promotion.

Question 6 of 7 2 Marks

The number of employed persons as a percentage of the economically active population (EAP) is called the …

A. employment rate.

B. economic growth.

C. productivity rate.

D. labour productivity.

Question 7 of 7 2 Marks

Economic activities which create value-added products in all sectors is known as … development.

A. social

B. employment

C. mining

D. industrial

Q1 MCQ Drill: 2018 Economics P1 (2018 NSC May/June Mid-Year Examination)

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