Economic Environment NCV Level 2 — Memo

November 2022 — NCV Level 2 — Economic Environment

NCV Level 2 2022 NCV Business

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Q1— Section header —

1.1.10

1.2.10Formal structural unemployment Culture production prime exchange Protectionism imports positive

1.3.10True False False True True True True False False

Q2— Section header —

2.1

2.2Less taxes are available to the government It decreases population growth Crime increases (10\

2.3Seasonal unemployment Frictional unemployment Increase in employment opportunities More goods are available Decreases poverty Increases the standard of living (4\

2.5Bread and Rama CAPITALISM COMMUNISM Production factors are privately owned. There is no division between people in terms of income and access to goods and services. (8\

Q3— Section header —

3.1Gross domestic product. (2\

3.2Level of peak peak economic activity trend expansion contraction contraction expansion

3.3EXPANSION PHASE CONTRACTION PHASE Job creation Price stability Poverty alleviation Balance of payment stability

3.6

Q4— Section header —

4.1They are unlimited They compete with each other They complement one another They differ from time to time They differ from place to place They differ from person to person They determine the limit of successive needs and wants

4.5.1The pool of skilled and experienced workers decreases as workers die Increased government spending on social grants such as disability grants Giving out free condoms Cost of production Prices of alternative products

Q5— Section header —

5.1Increase in poverty Money is a measure of value Money is used as a standard of deferred payments Quality products Introduces consumers to new products Increase in government spending Financial loss Increase in the price of goods

5.6Natural resources Labour

5.7Language Culture National laws [30] TOTAL SECTION B: GRAND TOTAL:30

Topics Identified

Business EnvironmentsBusiness FunctionsBusiness Plan

Mark Allocation

Sections30 + 30 + 30 + 30 + 30 = 150 marks

Paper information

TitleMemo

SubjectEconomic Environment

LevelNCV Level 2

Document typeNCV Business

Year2022

MonthNovember

Pages7

Downloads7

Examination context

Decade2020s

Years ago4y

SeasonSpring (SH)

Start dayTuesday

Exam periodNovember 2022

Days since exam1,439

About Economic Environment examination preparation

This TVET examination resource can be used as part of a structured revision programme. Past papers are most useful when learners attempt questions independently, work within a realistic time limit, and review their answers afterwards.

How to use this resource for revision

A TVET past examination paper is most useful when it is treated as an active revision exercise. Try the questions yourself before checking the corresponding memorandum. Where you make an error, identify the reason — was it a knowledge gap, a calculation mistake, an interpretation issue, or an examination technique problem?

For stronger examination practice, complete the paper without unnecessary interruptions and keep track of the questions that take the most time. Afterwards, review the memorandum and separate knowledge gaps from mistakes caused by interpretation, calculation, structure, or examination technique.

understanding question requirements

applying subject knowledge

working under time constraints

checking answers

identifying revision priorities

A practical revision approach

Start by completing the resource without looking at the memorandum. Review incorrect and incomplete answers afterwards and make a short revision list based on the areas that caused difficulty.

File details

File size207.4 KB

Pages7

Archived on8 September 2026

File age46d

ContributorFreeMode

FingerprintA88E0B2E3C06

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