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economics
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Questions
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Answers
1
Primary sector is of great importance to the country
True
False
2
Which sector contribute most to the GDP in 2017
Tertiary
Earn foreign exchange
Source of capital creation
Contribute to GDP
3
People move from rural to the urban area to access quality service
True
False
4
Imports and exports are types of foreign trade
False
True
5
Another concept for GDP is called
Gross national product
Gross domestic expenditure
Value added tax
Gross value added
6
Covid-19 identify the social indicator referred to in the extract
False
True
7
The aim of production is to manufacture useful goods and services to satisfy people's needs and wants
False
True
8
Labour is factors of production
True
False
9
The rich, industrialised nation of the world is called
First world countries
Last development countries
Poor countries
Second world
10
There are no planned limitations are disadvantages of a market economy
True
False
11
When flour is used as an input in the production of cake it is a/an
Intermediate good
Consumer goods
Capital good
Final good
12
Lorenz curve it demonstrates the extent of inequality in income distribution
True
False
13
Covit-19 decrease poverty
True
False
14
What is the aim of micro finance regulatory
Tertiary
Primary
Natural
Secondary
15
A market system is characterised by
Government owns factors of production
Greater stability
Common good of community
Private property rights
16
Child support grand is example of social benefits
False
True
17
Export bringing goods and services into the country from abroad
True
False
18
Closed economy system is used by South African
False
True
19
One types of physical capital
Working capital
Fixed
Production
Working
20
2013 currently used by the SARB as base year
False
True
21
The rich industrialised nations of the world are called
Poor countries
Second world countries
First world countries
Least developed countries
22
Human capital refer to the skills, knowledge and health of workers
True
False
23
Unemployment is the biggest problem in South Africa
False
True
24
Gross fixed capital
The relationship between input and output
Increase in the country capital stock
First world class
Lender of the last resort
25
One types of semi-durable goods
Recreational and entertainment goods
House textiles
Clothing
Motor tire
26
Zimbabwe is the highest country in terms of HIV prevalence
True
False
27
The level of poverty on the continent is still very high
False
True
28
Measures of economic development
Education
Health
Income per capita
Gross domestic product
29
How much is produced per worker in a period of time
Productivity
Capital goods
Final good
Development
30
Forestry is the primary sector
True
False
31
The economically marginalized groups include
Women and children
Women and physically challenged persons
Black and white
Teachers and nurses
32
No production will not take place without labour
True
False
33
Which year is currently used by the SARB as base year
2014
2020
2015
2013
34
Identify the social indicator referred to in the extract
HIV /Aids
TB
Covid 19
35
Imports are types of foreign trade
False
True
36
War veterans grant is not a social grants
False
True
37
An index that shows the degree of inequality in the distribution of income
Laffer curve
Lorenz curve
Gini coefficient
Gini curve
38
Once it is used up,it cannot be replaced, produced and renewed
Nonrenewable resources
Incentive
Progressive
Rent
39
How can women be free from poverty
Rich
Perfect equality
Developing their capabilities
Proverty
40
Government owns the factors of production in mixed economy
True
False
41
Government burden will increase to provide social grants
True
False
42
Types of foreign trade
Production
Entrepot
Imports
Exports
43
Remuneration of minerals rights is
Rent
Royalties
Wages
Surplus
44
Which country rank the highest in terms of HIV prevalence
Zimbabwe
Uk
Botswana
South African
45
Administration classification of government expenditure
False
True
46
Covit-19 affect economic growth in the future
True
False
47
The%of people who in a country who can read and write is known as
Developmental
Literacy
Illiteracy
Population
48
The value of money in South Africa is stabilised by
Fiscal policy of the treasury
Monetary and fiscal policy
The monetary policy of the SARB
Employment policy
49
The tax system where those who earn more pay more tax is called...tax
Proportional
Progressive
Regressive
Personal income
50
Motivation,reward offered for increased productivity
Incentive
Consumer goods
Gross value added
Gross national product