prim059may2019.pdf - This examination paper consists of 12 pages plus instructions for the completion of a mark-reading sheet The paper comprises of ONE

prim059may2019.pdf - This examination paper consists of 12...

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[TURN OVER] This examination paper consists of 12 pages plus instructions for the completion of a mark-reading sheet. The paper comprises of ONE SECTION. Section A consists of 50 questions and count 100 marks (50 x 2 = 100 marks).
PRIM059 May/June 2019 [TURN OVER] 2 SECTION 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 [1] limited wants and unlimited resources. [2] unlimited wants and limited money in circulation. [3] limited wants and limited resources. [4] unlimited wants and limited resources. 2. Microeconomics is a branch of economics that studies 3. Opportunity cost is best defined as 4. The diagram below shows a society’s production possibility frontier for coffee mugs and calculators.
PRIM059 May/June 2019 3 4. The opportunity cost of producing an additional coffee mug would be lowest at [1] A. [2] B. [3] C. [4] D. 5. Economics can be classified as [1] a social science. [2] a natural science. [3] an exact science. [4] an objective science. 6. What type of statement is the following: “Leonardo DiCaprio won the Oscar for Best Actor in 2016”? [1] 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]
PRIM059 May/June 2019

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