Key Concepts (Grade 12 NSC Matric Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
Which countries form the BRICS group of emerging economies?
Which countries form the BRICS group of emerging economies?
Brazil, Russia, India, China, South Africa
What is the main role of the World Trade Organisation (WTO)?
What is the main role of the World Trade Organisation (WTO)?
Monitor trade & resolve disputes globally
What does free trade mean?
What does free trade mean?
Trade without govt restrictions
What is the purpose of a protection trade policy?
What is the purpose of a protection trade policy?
Shield local industries from competition
What does export promotion aim to achieve?
What does export promotion aim to achieve?
Encourage production for international sale
What is import substitution?
What is import substitution?
Replacing imports with local alternatives
How does an embargo differ from sanctions?
How does an embargo differ from sanctions?
Embargo is an official state trade ban
What does disinvestment involve?
What does disinvestment involve?
Withdrawal of capital investment
What benefit do SADC member countries receive?
What benefit do SADC member countries receive?
Duty-free access to other members
What does trade liberalisation involve?
What does trade liberalisation involve?
Removing govt intervention from trade