REFER TO THE RESOURCES AND COMPLETE THE WORKSHEET

TIME ALLOCATION 30 MIN

QUESTION 1 ONE WORD ANSWER

READ THE FOLLOWING SENTENCES AND GIVE ONE WORD TO DESCRIBE
THE SENTENCE
1. A PETROL STATION IS A GOOD EXAMPLE OF A SPECIFIC MARKET STRUCTURE
(2)
2. THE MARKET STRUCTURE WHERE EXCHANGE RATES ARE DETERMINED
(2)
3. ADIDAS AND NIKE ARE GOOD EXAMPLES OF THIS TYPE OF COMPETITION
(2)
4. GOODS AND SERVICES RENDERED BY THE STATE
(2)
5. ECONOMIC SIDE EFFECTS THAT ARE CREATED DUE TO SPECIFIC ECONOMIC
ACTIONS (2)

2x5 (10)

QUESTION 2 FILL IN THE MISSING WORDS

COMPLETE THE SENTENCE BY FILLING IN THE MISSING WORD SO IT MAKES
SENSE
1. A_________________ IS DEFINED AS THE RECURRENT BUT NOT PERIODIC
PATTERN OF EXPANSIONAND CONTRACTION IN THE LEVEL OF ECONOMIC
ACTIVITY THAT OCCURS WITHIN A COUNTRY
2. ECONOMISTS WHO BELIEVE THAT ECONOMIC FLUCTUATIONS ARE AN
INHERENT FEATURE OF THE UNSTABLE MARKET ECONOMY ASCRIBE
ECONOMIC FLUCTUATIONS TO_____________FACTORS
3. ____________________ IS THE PART OF THE PUBLIC SECTOR THAT DEALS WITH
LOCAL ISSUES WITHIN A TOWN OR MUNICIPAL AREA
4. THIS INDEX IS AN INDICATION OF THE MOVING AVERAGE PRICE
ADJUSTMENTS OF A REPRESENTIVE BASKET OF CONSUMER GOODS AND
SERVICES
5. SOUTH AFRICA’S SOCIAL INDICATORS,SUCH AS THE INFANT MORTALITY RATE
AND LIFE EXPECTANCY AT BIRTH,TEND TO BE SIMALAR TO THOSE OF THE
LOWER INCOME COUNTRIES BECAUSE OF THE ______________ IN SOUTH
AFRICA.
(5X1)=(5)

QUESTION 3 THREE WRITE A PARAGRAPH

WRITE A PARAGRAPH OF FIVE LINES ON THE FOLLOWING MARKET
STRUCTURES
1. MONOPOLIES
2. OLIGOPOLIES
3. PERFECT MARKETS
4. IMPERFECT MARKETS
4X5 =20