Economics P2 November 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 A situation where average cost rises as production increases

1.3.2 The additional revenue earned when sales increase by one more
unit

1.3.3 A technique used by the government to determine whether a
project is beneficial to the society or not

1.3.4 General increase in prices that occurs when the aggregate demand
for goods and services exceeds the aggregate supply

1.3.5 Tourists travelling through South Africa using air, road, rail and sea
transport to get to another destination

1.3.6 Taking care of the environment to ensure that the needs of the
present and future generations are met