Q1 MCQ Drill: 2025 Economics P1 (2025 NSC May/June Mid-Year 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 2025 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 8 2 Marks

Consumer spending that is independent of the level of income is known as … consumption.

A. induced

B. autonomous

C. household

D. aggregate

Question 2 of 8 2 Marks

An estimation of new data which is unknown, based on facts that are known, is referred to as …

A. extrapolation.

B. trend line.

C. a moving average.

D. the length of a cycle.

Question 3 of 8 2 Marks

A free rider cannot be excluded from the consumption of … goods.

A. demerit

B. merit

C. collective

D. community

Question 4 of 8 2 Marks

A decrease in the value of one currency in terms of another currency due to market forces is known as …

A. appreciation.

B. evaluation.

C. depreciation.

D. devaluation.

Question 5 of 8 2 Marks

A trade agreement that sets the rules governing the exchange of goods between countries is known as …

A. a trade protocol.

B. trade liberalisation.

C. free trade.

D. a trade contract.

Question 6 of 8 2 Marks

The application of scientific knowledge to develop new innovations in the production process is known as ...

A. natural resources.

B. entrepreneurship.

C. technology.

D. labour.

Question 7 of 8 2 Marks

The government's key activities and time frames for implementing industrial development programmes are drafted in the …

A. National Industrial Policy Framework.

B. Industrial Policy Action Plan.

C. National Research and Development Strategy.

D. Integrated Manufacturing Strategy.

Question 8 of 8 2 Marks

A global organisation that provides financial assistance to enhance economic development in developing countries is known as the ...

A. United Nations.

B. World Trade Organisation.

C. International Monetary Fund.

D. World Bank.

Q1 MCQ Drill: 2025 Economics P1 (2025 NSC May/June Mid-Year Examination)

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