Growth, Development & Globalisation is one of 9 topics in the Grade 10 Economics CAPS syllabus, covered across 3 lessons on Study Vault. Below are real practice questions from this topic with full worked answers.
Sample practice questions
Easy
1. The direct exchange of one good or service for another, without using money, is called:
Barter
Self-sufficiency
Specialisation
Industrialisation
Answer: Barter — Barter is the direct exchange of goods or services for other goods or services, without the use of money as an intermediary.
Easy
2. The earliest human societies, which produced everything they needed with little or no exchange with others, are best described as:
Self-sufficient
Highly industrialised
Globalised
Specialised in a single good
Answer: Self-sufficient — Self-sufficient societies produced what they needed for survival themselves, relying heavily on agriculture and gathering, with minimal exchange with other groups.
Medium
3. What term describes the requirement in a barter system that each trading party must want exactly what the other party has to offer?
Answer: A double coincidence of wants — The "double coincidence of wants" is a key limitation of barter: both parties must simultaneously want what the other is offering for a trade to take place directly.
