Q1 MCQ Drill: 2023 Economics P1 (2023 Oct/Nov Final NSC (National DBE))

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 Oct/Nov Final NSC (National DBE) 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

A deliberate action by the government to increase the value of a currency is known as …

A. revaluation.

B. appreciation.

C. devaluation.

D. depreciation.

Question 2 of 8 2 Marks

Business cycles that last from 7 to 11 years, caused by changes in net investments, are known as … cycles.

A. Kuznets

B. Kondratieff

C. Jugler

D. Kitchin

Question 3 of 8 2 Marks

The relationship between the tax rate and the tax revenue for the government is illustrated by the … curve.

A. Phillips

B. Laffer

C. Lorenz

D. Indifference

Question 4 of 8 2 Marks

If the value of the marginal propensity to consume (MPC) is 0,6, the value of the marginal propensity to save (MPS) will be …

A. 0,4.

B. 0,75.

C. 1,67.

D. 2,5.

Question 5 of 8 2 Marks

A limit on the quantity of goods and services that can be purchased from other countries is known as import …

A. tariff.

B. incentive.

C. levy.

D. quota.

Question 6 of 8 2 Marks

A growth and development strategy that was intended to halve unemployment and poverty by 2014 was known as …

A. Reconstruction and Development Policy.

B. Accelerated and Shared Growth Initiative for South Africa.

C. Growth, Employment and Redistribution Programme.

D. National Skills Development Strategy.

Question 7 of 8 2 Marks

The government's broad approach to industrialisation is set out in the …

A. Industrial Policy Action Plan.

B. Strategic Integrated Projects.

C. Skills Support Programme.

D. National Industrial Policy Framework.

Question 8 of 8 2 Marks

The increase in the population of cities and towns through the movement of people from rural areas is known as …

A. immigration.

B. migration.

C. urbanisation.

D. emigration.

Q1 MCQ Drill: 2023 Economics P1 (2023 Oct/Nov Final NSC (National DBE))

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