Economics Grade 11 P2 November Mock Exam 2 2026 QP (Eng)

Mock hlayiso mock exams Practice Series: Grade 11 Exam Preparation WWW.HLAYISO.COM NATIONAL SENIOR CERTIFICATE GRADE 11 ECONOMICS P2 NOVEMBER EXAMINATION 2026 (MOCK) MARKS: 150 TIME: 2 hours This question paper consists of 12 pages. Copyright reserved Please turn over

Economics/P2 2 Hlayiso/Mock 2026 NSC Mock INSTRUCTIONS AND INFORMATION 1. Answer FOUR questions as follows in the ANSWER BOOK: SECTION A: COMPULSORY SECTION B: Answer TWO of the three questions. SECTION C: Answer ONE of the two questions. 2. Answer only the required number of questions. Answers in excess of the required number will NOT be marked. 3. Number the answers correctly according to the numbering system used in this question paper. 4. Write the question number above each answer. 5. Read the questions carefully. 6. Start EACH question on a NEW page. 7. Leave 2–3 lines between subsections of questions. 8. Answer the questions in full sentences and ensure that the format, content and context of your responses comply with the cognitive requirements of the questions. 9. Use only black or blue ink. 10. You may use a non-programmable pocket calculator. 11. Write neatly and legibly. Copyright reserved Please turn over

Economics/P2 3 Hlayiso/Mock 2026 NSC Mock SECTION A (COMPULSORY) QUESTION 1 30 MARKS – 20 MINUTES 1.1 Various options are provided as possible answers to the following questions. Choose the answer and write only the letter (A–D) next to the question numbers (1.1.1 to 1.1.8) in the ANSWER BOOK, e.g. 1.1.9 D. 1.1.1 When the price of a product increases by 10% and the quantity supplied increases by 25%, the supply of the product is … A price inelastic. B unitary elastic. C price elastic. D perfectly inelastic. 1.1.2 The income elasticity of demand for an inferior good is … A positive. B zero. C negative. D greater than one. 1.1.3 In the long run, a firm in a perfect market can only earn … profit. A economic B normal C windfall D maximum 1.1.4 The kinked demand curve is used to explain why prices tend to remain stable in … A a monopoly. B perfect competition. C an oligopoly. D monopolistic competition. 1.1.5 The demand for bricklayers depends on the demand for new houses. This is an example of … demand. A derived B joint C composite D effective 1.1.6 A group of countries that removes trade barriers among its members and charges a common external tariff on imports from non-members is a… A free trade area. B customs union. C common market. D monetary union. Copyright reserved Please turn over

Economics/P2 4 Hlayiso/Mock 2026 NSC Mock 1.1.7 The international agreement that controls the movement of hazardous waste between countries is the … A Kyoto Protocol. B Basel Convention. C Montreal Protocol. D Paris Agreement. 1.1.8 In 2015 the Millennium Development Goals (MDGs) were replaced by the … A Sustainable Development Goals. B Agenda 21 programme. C Kyoto targets. D Reconstruction and Development Programme. (8 x 2) (16) 1.2 Choose a description from COLUMN B that matches the item in COLUMN A. Write only the letter (A–I) next to the question numbers (1.2.1 to 1.2.8) in the ANSWER BOOK, e.g. 1.2.9 J. COLUMN A COLUMN B 1.2.1 Relative price A the additional satisfaction gained from consuming one more unit of a product 1.2.2 Average revenue B selling products in a foreign market at a price lower than the price charged in the home market or below the cost of production 1.2.3 Tradable permits C the total amount of greenhouse gases caused by the activities of a person, business or country 1.2.4 Collusion D the price of a product expressed in terms of the price of another product 1.2.5 Marginal utility E the process by which fertile land is turned into desert, e.g. by drought and overgrazing 1.2.6 Dumping F certificates that give firms the right to emit a certain amount of pollution and that can be sold to other firms 1.2.7 Desertification G a period that is long enough for all factors of production to be changed 1.2.8 Carbon footprint H an agreement between firms to fix prices or to share the market among themselves I total revenue divided by the number of units sold (8 x 1) (8) Copyright reserved Please turn over

Economics/P2 5 Hlayiso/Mock 2026 NSC Mock 1.3 Give ONE term for each of the following descriptions. Write only the term next to the question numbers (1.3.1 to 1.3.6) in the ANSWER BOOK. Abbreviations, acronyms and examples will NOT be accepted. 1.3.1 The responsiveness of the quantity demanded of one product to a change in the price of another product 1.3.2 Goods for which an increase in the price of one leads to an increase in the demand for the other 1.3.3 Charging different prices to different groups of consumers for the same product for reasons not related to cost 1.3.4 The total income that a business receives from selling its output, calculated as price multiplied by quantity 1.3.5 Natural resources that can be replaced by nature within a short period of time 1.3.6 Taxes that are levied on imported goods (6 x 1) (6) TOTAL SECTION A: 30 Copyright reserved Please turn over

Economics/P2 6 Hlayiso/Mock 2026 NSC Mock SECTION B Answer any TWO of the three questions from this section in the ANSWER BOOK. QUESTION 2: MICROECONOMICS 40 MARKS – 30 MINUTES 2.1 Answer the following questions. 2.1.1 Name any TWO examples of fixed costs. (2 x 1) (2) 2.1.2 Why is the long run regarded as a planning period for a business? (1 x 2) (2) 2.2 Study the graph below and answer the questions that follow. COST AND REVENUE CURVES OF A MAIZE FARMER IN A PERFECT MARKET Price/Costs (R’00) 100 MC 80 AC e 60 AR = MR 48 40 20 0 100 200 300 400 500 600 Quantity (tons) [Fictitious data compiled by the examiner] 2.2.1 Identify the profit-maximising output in the graph above. (1) 2.2.2 Name the type of profit earned by the farmer, shown by the shaded area. (1) 2.2.3 Briefly describe the term marginal cost. (2) 2.2.4 Explain why the average revenue (AR) curve is also the marginal revenue (MR) curve for this farmer. (2) 2.2.5 Calculate the total profit of the farmer at the profit-maximising output. Show ALL calculations. (4) Copyright reserved Please turn over

Economics/P2 7 Hlayiso/Mock 2026 NSC Mock 2.3 Study the extract below and answer the questions that follow. ONE PIPE, ONE SUPPLIER The residents of the fictional town of Kwa-Mpilo receive all their piped water from the municipal water utility. No private company may lay a second network of pipes in the town, because the municipality holds the only licence to supply water and building a second network would be extremely expensive. Last year the utility increased its tariffs by 12%, while the average income of households rose by only 5%. Households complained, but most of them continued to use almost the same amount of water. The local council has now asked the national regulator to review the tariffs. [Examiner’s own extract] 2.3.1 Identify ONE barrier to entry mentioned in the extract above. (1) 2.3.2 Name the type of monopoly that the water utility represents. (1) 2.3.3 Briefly describe the term monopoly. (2) 2.3.4 Explain why households continued to use almost the same amount of water after the tariff increase. (2) 2.3.5 How can the government protect consumers against the high prices charged by monopolies? (2 x 2) (4) 2.4 Briefly discuss interdependence and non-price competition as characteristics of an oligopoly. (2 x 4) (8) 2.5 How can businesses use their knowledge of income elasticity of demand when planning production? (4 x 2) (8) [40] Copyright reserved Please turn over

Economics/P2 8 Hlayiso/Mock 2026 NSC Mock QUESTION 3: CONTEMPORARY ECONOMIC ISSUES 40 MARKS – 30 MINUTES 3.1 Answer the following questions. 3.1.1 Name any TWO causes of globalisation. (2 x 1) (2) 3.1.2 Why do multinational corporations (MNCs) invest in developing countries? (1 x 2) (2) 3.2 Study the extract below and answer the questions that follow. SOUTH AFRICA IN INTERNATIONAL ECONOMIC GROUPINGS South Africa belongs to several international economic groupings and trade agreements. In 2011 it became a member of BRICS, a grouping of large emerging economies that was started by Brazil, Russia, India and China. South Africa is also the only African country that is a full member of the G20, a forum of the world’s major economies, and it held the G20 presidency in 2025. Closer to home, trading under the African Continental Free Trade Area (AfCFTA) started in 2021. Its aim is to reduce tariffs on most goods traded between African countries. Many small South African manufacturers hope to sell more goods to the rest of Africa, while others fear more competition from imports. [Summary compiled by the examiner] 3.2.1 Identify the trade agreement in the extract that aims to reduce tariffs between African countries. (1) 3.2.2 Name ONE regional trade agreement or customs union, other than the AfCFTA, of which South Africa is a member. (1) 3.2.3 Briefly describe the term trade bloc. (2) 3.2.4 Explain why some small local manufacturers fear the AfCFTA. (2) 3.2.5 How can groupings such as BRICS and the G20 help to reduce the North–South divide? (2 x 2) (4) Copyright reserved Please turn over

Economics/P2 9 Hlayiso/Mock 2026 NSC Mock 3.3 Study the cartoon below and answer the questions that follow. A DAY AT THE BEACH Let’s rather go to another beach next year. PLASTIC BAGS R2 each Bring your own bag and save! [Examiner’s own cartoon] 3.3.1 Identify the type of pollution shown in the cartoon above. (1) 3.3.2 Name ONE way in which households can reduce plastic waste. (1) 3.3.3 Briefly describe the term pollution. (2) 3.3.4 Explain how a charge on plastic bags can reduce pollution. (2) 3.3.5 How does marine pollution negatively affect the economy of a coastal town? (2 x 2) (4) 3.4 Distinguish between foreign direct investment and portfolio investment. (2 x 4) (8) 3.5 Analyse the importance of conserving biodiversity for the South African economy. (4 x 2) (8) [40] Copyright reserved Please turn over

Economics/P2 10 Hlayiso/Mock 2026 NSC Mock QUESTION 4: MICROECONOMICS AND CONTEMPORARY ECONOMIC ISSUES 40 MARKS – 30 MINUTES 4.1 Answer the following questions. 4.1.1 Name TWO characteristics of monopolistic competition. (2 x 1) (2) 4.1.2 Why is global warming regarded as a problem that cannot be solved by one country alone? (1 x 2) (2) 4.2 Study the table below and answer the questions that follow. UTILITY OF A LEARNER EATING VETKOEK AT A SCHOOL FUN DAY Number of vetkoek Total utility (utils) Marginal utility (utils) 1 20 20 2 36 16 3 A 12 4 56 8 5 60 B 6 60 0 7 56 −4 [Fictitious data compiled by the examiner] 4.2.1 Identify the number of vetkoek at which total utility first reaches its maximum. (1) 4.2.2 Name the law illustrated by the marginal utility column. (1) 4.2.3 Briefly describe the term total utility. (2) 4.2.4 Explain why a rational consumer will not buy the seventh vetkoek. (2) 4.2.5 Calculate the values of A and B. Show ALL calculations. (2 x 2) (4) Copyright reserved Please turn over

Economics/P2 11 Hlayiso/Mock 2026 NSC Mock 4.3 Study the graph below and answer the questions that follow. CARBON DIOXIDE (CO2 ) EMISSIONS PER PERSON IN FOUR COUNTRIES Tonnes per person per year 16 14,5 12 8,2 8 4 1,8 0,4 0 Country Country Country Country K L M N K and L: industrialised countries M and N: developing countries [Fictitious data compiled by the examiner] 4.3.1 Identify the country with the lowest CO2 emissions per person. (1) 4.3.2 Name ONE greenhouse gas other than carbon dioxide. (1) 4.3.3 Briefly describe the term global warming. (2) 4.3.4 Explain why the industrialised countries (K and L) emit much more CO2 per person than the developing countries. (2) 4.3.5 How can developing countries be assisted to grow their economies without greatly increasing their emissions? (2 x 2) (4) 4.4 Distinguish between accounting profit and economic profit. (2 x 4) (8) 4.5 Evaluate the use of command-and-control measures (e.g. regulations and standards) by government to protect the environment. (4 x 2) (8) [40] TOTAL SECTION B: 80 Copyright reserved Please turn over

Economics/P2 12 Hlayiso/Mock 2026 NSC Mock SECTION C Answer any ONE of the two questions in this section in the ANSWER BOOK. Your answer will be assessed as follows: STRUCTURE OF ESSAY MARK ALLOCATION Introduction Max. 2 The introduction is a lower-order response. • A good starting point will be to define the main concept related to the question topic. • DO NOT include any part of the question in your introduction. • DO NOT repeat any part of the introduction in the body. • Avoid mentioning in the introduction what you are going to discuss in the body. Body Max. 26 Main part: Discuss in detail/Discuss in detail with the aid of graphs/In-depth discussion/ Examine/Critically discuss/Analyse/Compare/Evaluate/Distinguish/ Differentiate/Explain/Assess/Debate A maximum of 8 marks may be allocated for headings/examples. Additional part: Critically discuss/Evaluate/Critically evaluate/Deduce/ Max. 10 Compare/Distinguish/Suggest/Interpret/Debate/How A maximum of 2 marks may be allocated for mere listing of facts. Conclusion Max. 2 Any higher-order conclusion should include: • A brief summary of what has been discussed without repeating facts already mentioned • Any opinion or value judgement on the facts discussed • Additional support information to strengthen the discussion/analysis • A contradictory viewpoint with motivation, if required • Recommendations TOTAL 40 QUESTION 5: MICROECONOMICS 40 MARKS – 40 MINUTES • Discuss in detail the types (degrees) of price elasticity of demand, with the aid of graphs. (26 marks) • How can the government use its knowledge of price elasticity of demand when it imposes excise duties on products such as cigarettes and alcohol? (10 marks) [40] QUESTION 6: CONTEMPORARY ECONOMIC ISSUES 40 MARKS – 40 MINUTES • Discuss in detail the problems that threaten the environment. (26 marks) • Evaluate the effectiveness of international agreements in protecting the environment. (10 marks) [40] TOTAL SECTION C: 40 GRAND TOTAL: 150 Copyright reserved