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15 questions
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- Multiple ChoicePlease save your changes before editing any questions.
the government is responsible for ...sector provision
private
public
foreign
financial
- Multiple ChoicePlease save your changes before editing any questions.
The total remuneration that the owners of production factors receive is called national...
production
expenditure
exports
income
- Multiple ChoicePlease save your changes before editing any questions.
The exchange rate system used by South Africa is called the..exchange rate system
fixed
managed floating
free -floating
gold standard
- Multiple ChoicePlease save your changes before editing any questions.
An indication of long-term growth in the economy is referred to as the.........
trend line
amplitude
length
trough
- Multiple ChoicePlease save your changes before editing any questions.
The number of years that a new-born baby is likely to live is known a.......
population
nutrition
life expectancy
population growth
- Multiple ChoicePlease save your changes before editing any questions.
Households in South Africa spend most of their income on ..
durable goods
semi-durable goods
non-durable goods
services
- Multiple ChoicePlease save your changes before editing any questions.
The equilibrium price is always determined by the...
government
buyers
sellers
buyers and sellers together
- Multiple ChoicePlease save your changes before editing any questions.
Inflation is known as:
a decrease in the price of goods and services.
an increase in the price of good and services.
a decision making strategy
a step in the decision making process.
- Multiple ChoicePlease save your changes before editing any questions.
In the case of supply, as price increases
the quantity supplied decrease
the quantity supplied increases.
the quantity supplied stays the same.
the quantity supplied decreases then increases.
- Multiple ChoicePlease save your changes before editing any questions.
Economic demand for a product refers to how much of the product........
is available for purchase from business at each price
people are willing and able to buy at each price
people want, whether they can buy it or not
consumers can afford it
- Multiple ChoicePlease save your changes before editing any questions.
Which of the following is NOT a characteristic
of natural resources?
They have an unlimited supply.
They are unevenly distributed
They need to be processed before they have a use
They are equally distributed.
- Multiple ChoicePlease save your changes before editing any questions.
Banking and financial services are examples of
... economic activity.
primary
secondary
tertiary
informal
- Multiple ChoicePlease save your changes before editing any questions.
Interest is the remuneration for which factor
of production?
Land
Capital
Entrepreneurship
Labour
- Multiple ChoicePlease save your changes before editing any questions.
The cost per unit of production is the ... cost.
total
marginal
unit
average
- Multiple ChoicePlease save your changes before editing any questions.
Which method is being used to calculate GDP?
Production method
Income method
Expenditure method
Value added method