Economics P2 November 2022 SECTION A 1.1
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Question 1 of 8
1. Question
QUESTION 1
1.1 Various options are provided as possible answers to the following questions.
Choose the answer and write only the letter (A–D) next to the question
numbers (1.1.1 to 1.1.8) in the ANSWER BOOK, e.g. 1.1.9 D.This is how your instructions will be in the exam, for this exam practice, just select the correct answer.
1.1.1 A firm will shut down if it cannot cover the … costs.CorrectIncorrect -
Question 2 of 8
2. Question
1.1.2 The demand curve that is relatively elastic relates to a … market.
CorrectIncorrect -
Question 3 of 8
3. Question
1.1.3 In the oligopoly market, the firm will make a/an … in the long run
CorrectIncorrect -
Question 4 of 8
4. Question
1.1.4 When a business fails to produce the optimum output at the lowest
possible cost, it is known as … inefficiency.CorrectIncorrect -
Question 5 of 8
5. Question
1.1.5 When the economy is experiencing a low growth, high
unemployment and high inflation, it is called …CorrectIncorrect -
Question 6 of 8
6. Question
1.1.6 Tourists who engage in activities in the natural environment of the
place that they visit, is called … tourism.CorrectIncorrect -
Question 7 of 8
7. Question
1.1.7 Measures taken to ensure that non-renewable resources are not
threatened by extinction are known as …CorrectIncorrect -
Question 8 of 8
8. Question
1.1.8 The international agreement that manages the disposal of chemical
waste is called the …CorrectIncorrect
