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 government level handles national security and foreign policy?
Which government level handles national security and foreign policy?
Central national government
What is a primary responsibility of local government?
What is a primary responsibility of local government?
Waste management
Which two characteristics define public goods?
Which two characteristics define public goods?
Non-excludable and non-rivalrous
Why is education classified as a merit good?
Why is education classified as a merit good?
It benefits both individuals & society
What is the free rider problem?
What is the free rider problem?
People benefit without paying costs
What time period does the MTBPS cover?
What time period does the MTBPS cover?
Three years
What is a potential benefit of deregulation?
What is a potential benefit of deregulation?
Increased competition & efficiency
Which of these is an example of a State Owned Enterprise in South Africa?
Which of these is an example of a State Owned Enterprise in South Africa?
Eskom
What distinguishes direct taxes from indirect taxes?
What distinguishes direct taxes from indirect taxes?
Direct taxes cannot be shifted
What is the current VAT rate in South Africa?
What is the current VAT rate in South Africa?
15%