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[TURN OVER]This examination paper consists of 12 pages plus instructions for the completion of a mark-readingsheet.The paper comprises of ONE SECTION.Section A consists of 50 questions and count 100 marks (50 x 2 = 100 marks).
PRIM059May/June 20192SECTION A: MULTIPLE-CHOICE QUESTIONS[50x2=100 Marks](The correct answers to these questions must be indicated on the mark-reading sheet provided.)1.The economic problem arises from the coexistence of
[TURN OVER]4.The diagram below shows a society’s production possibility frontier for coffee mugs andcalculators.
2.Microeconomics is a branch of economics that studies
3.Opportunity cost is best defined as
PRIM059May/June 201934.The opportunity cost of producing an additional coffee mug would be lowest at[1]A.[2]B.[3]C.[4]D.
[TURN OVER]
5.Economics can be classified as
6.What type of statement is the following: “Leonardo DiCaprio won the Oscar for Best Actor in2016”?
7.In the South African economy, the problem of “what to produce” is solved primarily by
8.In economics, the “how” or input question refers to[1]the problem of allocating scarce resources among competing uses.[2]the ways in which factors of production may be combined to produce output.[3]the way in which a firm decides on its profit-maximising rate of output.[4]the problem of how output is distributed among individuals and groups in society.
PRIM059May/June 2019

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