Question 1
According to the NSSCO Economics syllabus, what is the basic economic problem?
Correct Answer:
Limited resources and unlimited wants
Question 2
A Windhoek learner spends N$80 on a textbook instead of a movie ticket that also costs N$80. What is the opportunity cost of buying the textbook?
Correct Answer:
The enjoyment of the movie that was forgone
Question 3
Which list correctly identifies the four factors of production in NSSCO Economics?
Correct Answer:
Land, labour, capital and entrepreneurship
Question 4
In a planned (command) economic system, who primarily decides what goods and services are produced?
Correct Answer:
The government or central planning authority
Question 5
Namibia's economy is best described as which type of economic system?
Correct Answer:
A mixed economy with both private markets and government involvement
Question 1
Exam overview

About this Exam

Prepare with the NSSCO Economics (6145) Practice Questions - Namibia Senior Secondary Certificate Ordinary Level Economics (Syllabus 6145) Exam practice quiz. This question bank includes 100 questions covering price, cost, costs, firm, and typically. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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NSSCO Economics (6145) Practice Questions - Namibia Senior Secondary Certificate Ordinary Level Economics (Syllabus 6145) Exam

This practice set contains 100 questions from the matching question bank and focuses on price, cost, costs, firm, and typically. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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