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
What does absolute advantage mean for a country?
What does absolute advantage mean for a country?
Producing at lowest cost vs other countries
Comparative advantage is based on which economic concept?
Comparative advantage is based on which economic concept?
Opportunity cost
What characterises free trade between countries?
What characterises free trade between countries?
No tariffs, quotas, or trade barriers
What distinguishes direct investment from other types?
What distinguishes direct investment from other types?
Long-term with significant control
What does portfolio investment primarily involve?
What does portfolio investment primarily involve?
Buying shares and bonds for returns
Which is an example of a transfer payment?
Which is an example of a transfer payment?
Foreign aid to another country
What causes exchange rates to fluctuate?
What causes exchange rates to fluctuate?
Supply and demand
When does a country have a trade surplus?
When does a country have a trade surplus?
When exports exceed imports
The terms of trade formula is: ?
The terms of trade formula is: ?
What is the primary role of the IMF?
What is the primary role of the IMF?
Financial aid for balance of payments issues