MINISTRY OF EDUCATION

[Pages:32]MINISTRY OF EDUCATION

NAMIBIA SENIOR SECONDARY CERTIFICATE

ECONOMICS SPECIMEN PAPERS 1? 2 AND

MARK SCHEME ORDINARY LEVEL

GRADES 11 ? 12

THESE PAPERS AND MARK SCHEMES SERVE TO EXEMPLIFY THE SPECIFICATIONS IN THE LOCALISED

NSSC ECONOMICS ORDINARY LEVEL SYLLABUS

2006

Ministry of Education National Institute for Educational Development Private Bag 2034 Okahandja Namibia

? Copyright NIED, Ministry of Education, 2005 NSSCO Economics Specimen Paper Booklet Grades 11-12

ISBN: 99916-69-93-0

Printed by NIED

Publication date: 2005

TABLE OF CONTENTS

Paper 1 Specimen Paper...........................................................................................................1 Paper 1 Mark Scheme ..............................................................................................................9 Paper 2 Specimen Paper.........................................................................................................17 Paper 2 Mark Scheme ............................................................................................................21

MINISTRY OF EDUCATION

Namibia Senior Secondary Certificate (NSSC) ECONOMICS: ORDINARY LEVEL

PAPER 1 SPECIMEN PAPER

(Short-answered questions and questions testing enquiry skills)

TIME: 2 hours 30 minutes INSTRUCTIONS TO CANDIDATES Write your name, Centre number and candidate number in the spaces at the top of this page and on all separate answer paper used. Answer all questions. Section A Write your answers in the spaces provided on the question paper. Section B Write your answer on the separate answer paper provide. At the end of the examination, fasten the separate answer paper securely to the question paper. INFORMATION FOR CANDIDATES The number of marks is given in brackets [ ] at the end of each question or part question.

FOR EAMINER'S USE Section A Section B TOTAL

1

Section A Answer all questions in this section. Write your answer in the space provided.

1. Your pocket-money forces you to choose - either a ticket for a local pop concert or some

CD's. How does this illustrate opportunity cost?

[2]

_______________________________________________________________________

_______________________________________________________________________

2. Describe labour as a factor of production.

[1]

_______________________________________________________________________

3. Resources are allocated by government directives for production. To which economic

system does the above statement relate?

[1]

_______________________________________________________________________

4. State one advantage and one disadvantage of specialisation.

[2]

_______________________________________________________________________

_______________________________________________________________________

5. Define a trade union.

[1]

_______________________________________________________________________

6. Explain any one quality of money.

[2]

_______________________________________________________________________

_______________________________________________________________________

7. Describe two functions of the Bank of Namibia.

[2]

_______________________________________________________________________

_______________________________________________________________________

8. When is a market said to be in equilibrium?

[1]

_______________________________________________________________________

9. Identify two reasons that cause the demand curve to shift.

[2]

_______________________________________________________________________

_______________________________________________________________________

2

10. Explain any one characteristic of a monopoly.

[2]

_______________________________________________________________________

_______________________________________________________________________

11. Give one factor, other than the wage rate, which will affect an individuals choice of

occupation.

[1]

_______________________________________________________________________

12. Give one reason why workers in the same occupation are paid different wages.

[1]

_______________________________________________________________________

13. Describe the differences between labour- and capital production industries.

[2]

_______________________________________________________________________

_______________________________________________________________________

14. Define the term "economies of scale".

[1]

_______________________________________________________________________

_______________________________________________________________________

15. Give one reason why small firms may be successful.

[1]

_______________________________________________________________________

16. What type of unemployment exists when there is a fall in the demand for most goods and

services in an economy?

[1]

_______________________________________________________________________

17. Give one example of an indirect tax in Namibia.

[1]

_______________________________________________________________________

18. Country X had the following figures for its balance of trade in a given year:

Visible exports

2 000

Visible imports

1 500

Invisible imports

3 500

Invisible exports

1 000

Calculate the current account balance. (Show your calculation.)

[2]

_______________________________________________________________________

_______________________________________________________________________

_______________________________________________________________________

3

19. Interest rates in Namibia were increased three times in 2002. (January, March and June).

Give one advantage of an increase in interest rates.

[1]

_______________________________________________________________________

20. What monetary measure of economic policy does the government use to influence

economic growth?

[1]

_______________________________________________________________________

21. Price

Quantity

Explain what would happen to demand and supply if the government sets the price of a

good at P2.

[2]

_______________________________________________________________________

_______________________________________________________________________

22. What is meant by Retail Price Index?

[1]

_______________________________________________________________________

_______________________________________________________________________

23. What is meant by Gross Domestic Product?

[1]

_______________________________________________________________________

_______________________________________________________________________

4

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