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Economics grade 12 Flashcards | StudBud
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Economics grade 12
Economics grade 12
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Questions
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1
In a planned or command economy, all the economic decisionsituation are taken by:
Both government and consumers
Government
Voters
Consumers
2
The ______ the demand curve, the more elastic it's price elasticity of demand is
Flatter
Steeper
Rigid
3
Which sector contributes the most to the GDP of South Africa?
Primary sector
Tertiary sector
Financial sector
Secondary sector
4
When the government want to stimulate the economy it should apply?
Contractionary monetary policy
Contractionary fiscal policy
Expansionary monetary policy
Expansionarr fiscal policy
5
Macroeconomics deals with:
The activities of individual units
The behaviour of firms
Economic aggregates
6
Division of labour is a characteristic of:
Assembly line production
Home craft business
Skilled line production
7
Which of the following is not a requirement for economic development?
An adequate capital base
Natural resources
A temperature climate
8
People who cannot afford to meet thier basic needs for food, shelter etc. are said to live?
In chronic poverty
In relative poverty
In absolute poverty
9
The satisfaction gained from consuming goods?
Monetary value
Utility
Opportunity cost
10
Coal in the ground may best be classified as which factor of production?
Entrepreneurship
Labour
Natural resource
Capital
