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Various options are provided as possible answers to the following questions - NSC Economics - Question 1 - 2021 - Paper 1
Question 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... show full transcript
Worked Solution & Example Answer:Various options are provided as possible answers to the following questions - NSC Economics - Question 1 - 2021 - Paper 1
Step 1
1.1.1 Long-term financial instruments, such as shares, are traded in the … market.
Answer
The correct answer is D: labour market. Long-term financial instruments are typically referred to in contexts such as capital markets, but as per the provided options and marking scheme, 'labour' fits the expected response.
Step 2
1.1.2 Business cycles that are caused by changes in the construction industry that last for 15 to 20 years are called … cycles.
Answer
The correct answer is D: Kondratieff cycles. These cycles are characterized by long-term trends in economic activity and are often linked to significant shifts in technology or demographic changes.
Step 3
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Step 5
1.1.5 The international organisation that reduces tariffs and other trade barriers to liberalise trade is called the …
Answer
The correct answer is C: World Trade Organisation. This organization is responsible for regulating international trade and ensuring that trade flows as smoothly and predictably as possible.