Q1 MCQ Drill: 2022 Economics P2 (2022 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 2022 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 revenue derived from the sale of one additional unit of a product is called … revenue.

A. average

B. extra

C. total

D. marginal

Question 2 of 8 2 Marks

The institution that investigates restrictive business practices is the Competition …

A. Commission.

B. Tribunal.

C. Appeal Court.

D. Policy.

Question 3 of 8 2 Marks

The cost that changes with the level of output is known as … cost.

A. marginal

B. variable

C. average

D. fixed

Question 4 of 8 2 Marks

A market structure that is dominated by two producers is called ...

A. a perfect market.

B. a monopoly.

C. monopolistic competition.

D. a duopoly.

Question 5 of 8 2 Marks

A situation where prices rise so rapidly that people lose confidence in the value of money can be regarded as …

A. inflation.

B. stagflation.

C. hyperinflation.

D. headline inflation.

Question 6 of 8 2 Marks

When tourists visit South African game farms, it is referred to as … tourism.

A. eco-

B. business

C. cultural

D. outbound

Question 7 of 8 2 Marks

The command and control approach that focuses on the environmental impact of pollution is called …

A. quantity standards.

B. quality standards.

C. a voluntary agreement.

D. the Rio +20 Agreement.

Question 8 of 8 2 Marks

The process where trees are removed from the land and not replaced is known as …

A. degradation.

B. erosion.

C. deforestation.

D. recycling.

Q1 MCQ Drill: 2022 Economics P2 (2022 NSC May/June Mid-Year Examination)

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