Q1 MCQ Drill: 2023 Economics P2 (2023 September Provincial Preparatory (Trial) 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 2023 September Provincial Preparatory (Trial) 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

Expenditure on all factors of production used in the production process is called …

A. total costs.

B. marginal costs.

C. average costs.

D. fixed costs.

Question 2 of 8 2 Marks

Monopoly based on laws preventing other firms from competing is called a(n) … monopoly.

A. artificial

B. natural

C. dominant

D. simple

Question 3 of 8 2 Marks

In an imperfect market, prices are determined along the … curve.

A. average revenue

B. marginal revenue

C. average variable cost

D. average cost

Question 4 of 8 2 Marks

An initiative by government aimed at reducing poverty by providing income relief through temporary work is known as …

A. cost benefit analysis.

B. Public Works Programme.

C. subsidy

D. Black Economic Empowerment.

Question 5 of 8 2 Marks

A continuous fall in the general price levels over a prolonged period is known as …

A. hyperinflation.

B. stagflation.

C. deflation.

D. administered inflation.

Question 6 of 8 2 Marks

4 ECONOMICS P2 (EC/SEPTEMBER 2023) Activities whereby tourists visit sites of great archaeological significance such as the Cradle of Human-kind is known as … tourism.

A. leisure

B. business

C. ecotourism

D. Paleo

Question 7 of 8 2 Marks

4 ECONOMICS P2 (EC/SEPTEMBER 2023) Setting legal limits on emissions and prosecuting businesses and individuals if these are not adhered to is referred to as …

A. voluntary agreements.

B. direct control.

C. technology and control.

D. command and control.

Question 8 of 8 2 Marks

4 ECONOMICS P2 (EC/SEPTEMBER 2023) The ability of the environment to survive its use for economic activity is called …

A. environment.

B. environmental sustainability.

C. conservation.

D. preservation.

Q1 MCQ Drill: 2023 Economics P2 (2023 September Provincial Preparatory (Trial) Examination)

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