Economics Grade 11 P2 November Mock 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 A market structure with a single seller of a product that has no close substitutes is called … A an oligopoly. B a monopoly. C monopolistic competition. D perfect competition. 1.1.2 Costs that remain the same regardless of the level of output in the short run are … costs. A variable B marginal C fixed D average 1.1.3 When the percentage change in quantity demanded is greater than the percentage change in price, demand is … A price elastic. B price inelastic. C unitary elastic. D perfectly inelastic. 1.1.4 Goods that are used together, such as cars and petrol, are called … A substitute goods. B inferior goods. C normal goods. D complementary goods. 1.1.5 The additional revenue that a business earns by selling one more unit of a product is … revenue. A average B marginal C total D normal 1.1.6 The economic gap between rich industrialised countries and poorer developing countries is known as the … A North–South divide. B digital divide. C poverty trap. D brain drain. Copyright reserved Please turn over

Economics/P2 4 Hlayiso/Mock 2026 NSC Mock 1.1.7 The international agreement adopted in 1997 that set targets for developed countries to reduce greenhouse gas emissions is the … A Montreal Protocol. B Agenda 21. C Kyoto Protocol. D Basel Convention. 1.1.8 The building of a factory in South Africa by a company from another country is an example of … A portfolio investment. B development aid. C import substitution. D foreign direct investment. (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 Normal profit A the increasing integration of the economies of the world through trade, investment and technology 1.2.2 Short run B goods for which demand decreases when income increases 1.2.3 Price elasticity of C development that meets the needs of supply the present without compromising the ability of future generations to meet their own needs 1.2.4 Oligopoly D the minimum earnings needed to keep an entrepreneur in a particular business 1.2.5 Inferior goods E a tax levied on goods that pollute the environment 1.2.6 Globalisation F a market dominated by a few large businesses that are interdependent 1.2.7 Biodiversity G the responsiveness of the quantity supplied to a change in the price of a product 1.2.8 Sustainable H a period during which at least one development factor of production is fixed I the variety of plant and animal species in a particular area (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 Costs that change as the level of output changes 1.3.2 The point at which the quantity demanded of a product is equal to the quantity supplied 1.3.3 The additional cost of producing one more unit of output 1.3.4 An agreement between countries to remove trade barriers among themselves, while each member keeps its own tariffs against non-members 1.3.5 The gradual increase in the average temperature of the earth’s atmosphere 1.3.6 Large companies that have their headquarters in one country and operate in many countries (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 determinants of the price elasticity of demand. (2 x 1) (2) 2.1.2 Why is the demand curve of an individual firm in a perfect market horizontal? (1 x 2) (2) 2.2 Study the graph below and answer the questions that follow. DEMAND FOR MINIBUS-TAXI TRIPS ON A ROUTE (PER DAY) Price (R) 140 120 B 100 A 80 60 40 20 D 0 100 200 300 400 500 600 700 800 900 Quantity (trips per day) [Examiner’s own] 2.2.1 Identify the quantity demanded when the price is R100. (1) 2.2.2 Name the law that is illustrated by the shape of the demand curve above. (1) 2.2.3 Briefly describe the term price elasticity of demand. (2) 2.2.4 Explain why the movement from point A to point B is called a decrease in quantity demanded and not a decrease in demand. (2) 2.2.5 Calculate the price elasticity of demand when the price increases from R80 to R100. Show ALL calculations. (4) Copyright reserved Please turn over

Economics/P2 7 Hlayiso/Mock 2026 NSC Mock 2.3 Study the table below and answer the questions that follow. SHORT-RUN COSTS OF A SMALL BAKERY Output TFC TVC TC AC MC (batches) (R) (R) (R) (R) (R) 0 200 0 200 – – 1 200 100 300 300,00 100 2 200 180 380 190,00 80 3 200 270 470 156,67 90 4 200 400 600 150,00 130 5 200 580 780 156,00 180 [Fictitious data compiled by the examiner] 2.3.1 Identify the level of output at which average cost (AC) is the lowest. (1) 2.3.2 Name the law that explains why marginal cost eventually increases in the short run. (1) 2.3.3 Briefly describe the term average cost. (2) 2.3.4 Explain why total fixed cost (TFC) remains at R200 at all levels of output. (2) 2.3.5 How can a firm lower its long-run average costs? (2 x 2) (4) 2.4 Briefly discuss perfect competition and monopoly as market structures. (2 x 4) (8) 2.5 How can businesses use their knowledge of the price elasticity of demand when they set prices? (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 types of pollution. (2 x 1) (2) 3.1.2 How can globalisation benefit consumers in developing countries? (1 x 2) (2) 3.2 Study the cartoon description below and answer the questions that follow. THE WORLD COMES TO SOWETO The cartoon shows a teenager in Soweto wearing a cap with the label “Made in China” and holding a smartphone with the words “Designed in USA – Assembled in Vietnam”. He is eating a burger from an international fast-food chain and says to his friend: “I have never left Soweto, but the whole world comes to me!” Across the street is a local clothing factory with a locked gate and a sign: “CLOSED – We could not compete with cheap imports. 300 jobs lost.” [Examiner’s own cartoon description] 3.2.1 Identify ONE negative effect of globalisation shown in the cartoon above. (1) 3.2.2 Name the international organisation that promotes free trade and settles trade disputes between countries. (1) 3.2.3 Briefly describe the term globalisation. (2) 3.2.4 Explain how multinational corporations (MNCs) can transfer technology to developing countries. (2) 3.2.5 How can developing countries benefit from belonging to regional trade agreements such as the SADC Free Trade Area? (2 x 2) (4) Copyright reserved Please turn over

Economics/P2 9 Hlayiso/Mock 2026 NSC Mock 3.3 Study the table below and answer the questions that follow. SELECTED INDICATORS OF TWO COUNTRIES Indicator Country P Country Q GDP per capita (US$) 52 000 2 300 Life expectancy (years) 82 61 Adult literacy rate (%) 99 64 Workers in agriculture (% of total) 2 48 Manufactured Raw materials, Main exports goods, services farm products [Fictitious data compiled by the examiner] 3.3.1 Identify the country that most likely belongs to the South. (1) 3.3.2 Name ONE country that is regarded as part of the North. (1) 3.3.3 Briefly describe the term North–South divide. (2) 3.3.4 Explain why a dependence on the export of raw materials is a disadvantage for countries of the South. (2) 3.3.5 How can countries of the South narrow the gap between themselves and the North? (2 x 2) (4) 3.4 Briefly discuss deforestation and soil erosion as threats to the environment. (2 x 4) (8) 3.5 How can recycling and better waste management contribute to environmental sustainability? (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 any TWO characteristics of an oligopoly. (2 x 1) (2) 4.1.2 Why do businesses in monopolistic competition spend a lot of money on advertising? (1 x 2) (2) 4.2 Study the graph below and answer the questions that follow. BREAK-EVEN ANALYSIS OF A T-SHIRT PRINTING BUSINESS Costs/Revenue (R) TR 8000 TC 6000 E 4500 2100 TFC 0 100 200 300 400 500 600 Quantity (units) Selling price per T-shirt = R15 Variable cost per T-shirt = R8 [Fictitious data compiled by the examiner] 4.2.1 Identify the total fixed cost (TFC) in the graph above. (1) 4.2.2 Name point E, where total revenue equals total cost. (1) 4.2.3 Briefly describe the term variable costs. (2) 4.2.4 Explain why the TC curve starts at R2 100 and not at zero. (2) 4.2.5 Calculate the profit of the business if it produces and sells 500 T-shirts. Show ALL calculations. (4) Copyright reserved Please turn over

Economics/P2 11 Hlayiso/Mock 2026 NSC Mock 4.3 Study the extract below and answer the questions that follow. FROM JOHANNESBURG TO A GREENER FUTURE In 2002 South Africa hosted the World Summit on Sustainable Development (WSSD) in Johannesburg, ten years after the Earth Summit in Rio de Janeiro. World leaders committed themselves to reducing poverty, improving access to clean water and sanitation, and protecting natural resources such as fish stocks and forests. Since then South Africa has introduced a carbon tax and is building more solar and wind power plants. However, the country still relies heavily on coal-fired power stations, and many communities still lack proper sanitation. [Summary compiled by the examiner] 4.3.1 Identify the city that hosted the World Summit on Sustainable Development in 2002. (1) 4.3.2 Name ONE renewable source of energy. (1) 4.3.3 Briefly describe the term carbon tax. (2) 4.3.4 Explain why access to proper sanitation is important for sustainable development. (2) 4.3.5 How can South Africa balance economic growth and the protection of the environment? (2 x 2) (4) 4.4 Briefly discuss economies of scale and diseconomies of scale. (2 x 4) (8) 4.5 Why are developing countries more vulnerable to the effects of climate change than developed countries? (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 supply side relationships, with the aid of graphs. (26 marks) • Why is the supply of agricultural products usually price inelastic in the short run? (10 marks) [40] QUESTION 6: CONTEMPORARY ECONOMIC ISSUES 40 MARKS – 40 MINUTES • Discuss in detail the positive and negative effects of globalisation on developing countries. (26 marks) • How can South Africa benefit more from globalisation? (10 marks) [40] TOTAL SECTION C: 40 GRAND TOTAL: 150 Copyright reserved