Economics P1 May/June 2022 SECTION A 1.3

QUESTION 1
1.3 Give ONE term for each of the following descriptions. Write only the term
next to the question numbers (1.3.1 to 1.3.6) in the ANSWER BOOK.
Abbreviations, acronyms and examples will NOT be accepted.

This is how your instructions will be in the exam, for this exam practice, just type the correct answer.

1.3.1 An exchange rate system where the value of the currency is
determined solely by market forces

1.3.2 The flow of goods, services and factors of production between
households and businesses

1.3.3 Business cycles that are caused by changes in construction
activities, lasting for 15 to 20 years

1.3.4 Selling goods on a foreign market at a price lower than the cost of
production in the country of origin

1.3.5 Infrastructure and investment that improve the overall welfare of
society

1.3.6 Measures the number of children that die before the age of one
year