Q1 MCQ Drill: 2024 Economics P1 (2024 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 2024 NSC October/November National 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

Short-term savings and loans are traded on the … market.

A. capital

B. foreign exchange

C. factor

D. money

Question 2 of 8 2 Marks

Job advertising space is an example of a … indicator.

A. lagging

B. coincident

C. leading

D. composite

Question 3 of 8 2 Marks

The deficit rule states that shortages on the budget should not exceed … of the gross domestic product (GDP).

A. 60%

B. 3%

C. 30%

D. 6%

Question 4 of 8 2 Marks

The ratio of a country's export price index to its import price index is known as the …

A. trade balance.

B. exchange rate.

C. terms of trade.

D. interest rate.

Question 5 of 8 2 Marks

A trade policy that restricts certain imports to prevent unfair foreign competition for local industries is called …

A. protectionism.

B. export promotion.

C. import substitution.

D. free trade.

Question 6 of 8 2 Marks

The level of a country's standard of living is measured by …

A. real GDP.

B. nominal GDP.

C. national income.

D. per capita GDP.

Question 7 of 8 2 Marks

An international benchmark criterion for regional development that requires democratic decision-making and transparency is called …

A. good governance.

B. integration.

C. partnership.

D. free-market orientation.

Question 8 of 8 2 Marks

The probable number of years that a person will live after birth is known as …

A. child mortality.

B. life expectancy.

C. under-five mortality.

D. population growth.

Q1 MCQ Drill: 2024 Economics P1 (2024 NSC October/November National Examination)

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