Q1 MCQ Drill: 2023 Economics P2 (2023 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 2023 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 amount by which total cost increases when one extra product is produced is known as … cost.

A. fixed

B. total

C. marginal

D. average

Question 2 of 8 2 Marks

The process during which a business makes itself known to the public is known as ...

A. advertising.

B. differentiation.

C. copyright.

D. patent.

Question 3 of 8 2 Marks

When the business does not produce at the lowest possible cost, it is said to be … inefficient.

A. allocatively

B. productively

C. market

D. Pareto

Question 4 of 8 2 Marks

In a perfect market normal profit is achieved when total revenue is equal to …

A. total variable cost.

B. marginal cost.

C. average revenue.

D. total cost.

Question 5 of 8 2 Marks

The prices set or controlled by government are called … prices.

A. infiltrated

B. administered

C. circulated

D. directed

Question 6 of 8 2 Marks

The activity of people travelling through South Africa using air, road, water or rail transport to get to another destination is known as … tourism.

A. transit

B. foreign

C. outbound

D. inbound

Question 7 of 8 2 Marks

The introduction of harmful substances into the atmosphere is called … pollution.

A. land

B. noise

C. water

D. air

Question 8 of 8 2 Marks

The Command and Control (CAC) that focuses on the environmental impact of the pollution emitted is called … standard.

A. quantity

B. social impact

C. quality

D. economic

Q1 MCQ Drill: 2023 Economics P2 (2023 NSC May/June Mid-Year Examination)

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