Economics P2 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 The period of production in which at least one of the factors of
production is fixed

1.3.2 A market in which illegal goods are bought and sold

1.3.3 The cost to society that is not included in the market price

1.3.4 Tourists from other countries who come to South Africa to visit
places of interest

1.3.5 Type of inflation where the aggregate demand for goods and
services exceeds the aggregate supply

1.3.6 The ability of an environment to survive its use for economic
activity