Q1 MCQ Drill: 2025 Economics P2 (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 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

The actual expenditure that a business incurs in the production process is known as … costs.

A. opportunity

B. implicit

C. explicit

D. additional

Question 2 of 8 2 Marks

The market structure that is regarded as a hybrid structure is known as ...

A. monopolistic competition.

B. a monopoly.

C. perfect competition.

D. an oligopoly.

Question 3 of 8 2 Marks

Most markets fail to adjust rapidly to changes in supply and demand due to a lack of …

A. positive externalities.

B. expenditure.

C. negative externalities.

D. information.

Question 4 of 8 2 Marks

Black markets develop when the government intervenes by imposing a/an … price.

A. minimum

B. aggregate

C. maximum

D. supply

Question 5 of 8 2 Marks

The calculation of the inflation rate of all final goods and services by using the implicit GDP deflator is referred to as … inflation.

A. all-inclusive

B. all-exclusive

C. consumer

D. whole-economy

Question 6 of 8 2 Marks

Cost-push inflation will result in …

A. lower wages.

B. natural disasters.

C. increase in productivity.

D. lower profit margins.

Question 7 of 8 2 Marks

The minimum length of stay should be … when measuring tourism.

A. one week.

B. two days.

C. one month.

D. one night.

Question 8 of 8 2 Marks

Financial support provided by the government to encourage investment in green energy, is known as a/an … subsidy.

A. property

B. environmental

C. employment

D. export

Q1 MCQ Drill: 2025 Economics P2 (2025 NSC May/June Mid-Year Examination)

Score: 0 / 0 Marks

Confirm Action