Grade 12 Past Exam Papers
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Economics

Economics Grade 12 question paper overview

This page includes Economics Grade 12 past papers and memos.

Economics Grade 12 exam question paper is made up of Paper 1 and Paper 2. Each of the papers is 2 hours long and contains 150 total exam marks.

As you can see in the tables below, the Paper 1 and Paper 2 exam question paper structures are the same. Each contains three sections, the first one being compulsory, while the other two contain options.

The nice part about the Economics Grade 12 exam question paper is that you will get to have multiple-choice type of questions in both Paper 1 and Paper 2.

Paper 1 Exam Question Paper Structure:

Exam SectionInstructions and Choice Requirements
SECTION ACOMPULSORY
SECTION BAnswer TWO of the three questions in the paper.
SECTION CAnswer ONE of the two questions in the paper.

Paper 1 Exam Question Paper Structure:

Exam SectionInstructions and Choice Requirements
SECTION ACOMPULSORY
SECTION BAnswer TWO of the three questions in the paper.
SECTION CAnswer ONE of the two questions in the paper.
2 papersin the final exam
150 marksper paper
2 hoursper paper
2020–20267 years of papers
283papers and memos

Exam facts from the DBE November 2025 question papers. See the full exam guide.

Economics Grade 12 Papers

Find Economics question papers and memos in the Google Drive links below, organised by year:

Exam Practice

Economics: Most Common Exam Questions Quiz

Real multiple choice questions from DBE NSC Economics Paper 1 and Paper 2 (November 2023 to 2025), with the answers from the official marking guidelines.

48

Exam Questions

4

Topics

2

Papers

3

NSC Years (2023 to 2025)

Paper 1Macroeconomics(2 marks)

NSC November 2023 · Paper 1 · Question 1.1.1

A deliberate action by the government to increase the value of a currency is known as …
Paper 1Macroeconomics(2 marks)

NSC November 2023 · Paper 1 · Question 1.1.2

Business cycles that last from 7 to 11 years, caused by changes in net investments, are known as … cycles.
Paper 1Macroeconomics(2 marks)

NSC November 2023 · Paper 1 · Question 1.1.3

The relationship between the tax rate and the tax revenue for the government is illustrated by the … curve.
Paper 1Macroeconomics(2 marks)

NSC November 2023 · Paper 1 · Question 1.1.4

If the value of the marginal propensity to consume (MPC) is 0,6, the value of the marginal propensity to save (MPS) will be …
Paper 1Economic Pursuits(2 marks)

NSC November 2023 · Paper 1 · Question 1.1.5

A limit on the quantity of goods and services that can be purchased from other countries is known as import …
Paper 1Economic Pursuits(2 marks)

NSC November 2023 · Paper 1 · Question 1.1.6

A growth and development strategy that was intended to halve unemployment and poverty by 2014 was known as …
Paper 1Economic Pursuits(2 marks)

NSC November 2023 · Paper 1 · Question 1.1.7

The government's broad approach to industrialisation is set out in the …
Paper 1Economic Pursuits(2 marks)

NSC November 2023 · Paper 1 · Question 1.1.8

The increase in the population of cities and towns through the movement of people from rural areas is known as …
Paper 1Macroeconomics(2 marks)

NSC November 2024 · Paper 1 · Question 1.1.1

Short-term savings and loans are traded on the … market.
Paper 1Macroeconomics(2 marks)

NSC November 2024 · Paper 1 · Question 1.1.2

Job advertising space is an example of a … indicator.
Paper 1Macroeconomics(2 marks)

NSC November 2024 · Paper 1 · Question 1.1.3

The deficit rule states that shortages on the budget should not exceed … of the gross domestic product (GDP).
Paper 1Macroeconomics(2 marks)

NSC November 2024 · Paper 1 · Question 1.1.4

The ratio of a country's export price index to its import price index is known as the …
Paper 1Economic Pursuits(2 marks)

NSC November 2024 · Paper 1 · Question 1.1.5

A trade policy that restricts certain imports to prevent unfair foreign competition for local industries is called …
Paper 1Economic Pursuits(2 marks)

NSC November 2024 · Paper 1 · Question 1.1.6

The level of a country's standard of living is measured by …
Paper 1Economic Pursuits(2 marks)

NSC November 2024 · Paper 1 · Question 1.1.7

An international benchmark criterion for regional development that requires democratic decision-making and transparency is called …
Paper 1Economic Pursuits(2 marks)

NSC November 2024 · Paper 1 · Question 1.1.8

The probable number of years that a person will live after birth is known as …
Paper 1Macroeconomics(2 marks)

NSC November 2025 · Paper 1 · Question 1.1.1

Fluctuations in economic activity that are caused by forces inside the market system are regarded as a/an … business cycles.
Paper 1Macroeconomics(2 marks)

NSC November 2025 · Paper 1 · Question 1.1.2

The sum of marginal propensity to consume (mpc) and marginal propensity to save (mps) in a two-sector model is equal to …
Paper 1Macroeconomics(2 marks)

NSC November 2025 · Paper 1 · Question 1.1.3

When government departments follow too many rules and procedures at the cost of quality service delivery, it is known as …
Paper 1Macroeconomics(2 marks)

NSC November 2025 · Paper 1 · Question 1.1.4

When a country produces more output than other countries given the same input, it is referred to as a/an … advantage.
Paper 1Economic Pursuits(2 marks)

NSC November 2025 · Paper 1 · Question 1.1.5

An import duty that is levied as a fixed amount per unit, weight or size of imported goods is called a/an … tariff.
Paper 1Economic Pursuits(2 marks)

NSC November 2025 · Paper 1 · Question 1.1.6

The South African government ensures a more equitable redistribution of income by using a … tax system.
Paper 1Economic Pursuits(2 marks)

NSC November 2025 · Paper 1 · Question 1.1.7

The industrial development strategy that focuses on improving competitiveness in production is known as the …
Paper 1Economic Pursuits(2 marks)

NSC November 2025 · Paper 1 · Question 1.1.8

The economically active population consists of people between the ages of …
Paper 2Microeconomics(2 marks)

NSC November 2023 · Paper 2 · Question 1.1.1

The costs that do not change with the output are called … costs.
Paper 2Microeconomics(2 marks)

NSC November 2023 · Paper 2 · Question 1.1.2

The removal of rules and procedures to allow easy entry of new firms in the market is called …
Paper 2Microeconomics(2 marks)

NSC November 2023 · Paper 2 · Question 1.1.3

The benefit gained by a third party which is not included in the market price is known as … externality.
Paper 2Microeconomics(2 marks)

NSC November 2023 · Paper 2 · Question 1.1.4

Actual expenditure of a business on inputs required for production is called … costs.
Paper 2Contemporary Economic Issues(2 marks)

NSC November 2023 · Paper 2 · Question 1.1.5

The rate at which the central bank lends money to commercial banks is called … rate.
Paper 2Contemporary Economic Issues(2 marks)

NSC November 2023 · Paper 2 · Question 1.1.6

Religious events are classified under … tourism.
Paper 2Contemporary Economic Issues(2 marks)

NSC November 2023 · Paper 2 · Question 1.1.7

The international protocol and agreement that focus on the eradication of poverty as one of its goals is known as the …
Paper 2Contemporary Economic Issues(2 marks)

NSC November 2023 · Paper 2 · Question 1.1.8

The ability of the environment to survive its use for economic activity is known as …
Paper 2Microeconomics(2 marks)

NSC November 2024 · Paper 2 · Question 1.1.1

A business that has no influence over the market price is called a price …
Paper 2Microeconomics(2 marks)

NSC November 2024 · Paper 2 · Question 1.1.2

High development costs are frequently a reason for a/an … monopoly.
Paper 2Microeconomics(2 marks)

NSC November 2024 · Paper 2 · Question 1.1.3

The shut-down point for a perfectly competitive firm is where the average revenue is equal to the … cost.
Paper 2Microeconomics(2 marks)

NSC November 2024 · Paper 2 · Question 1.1.4

When the government passes laws to reduce market failures, it is referred to as …
Paper 2Contemporary Economic Issues(2 marks)

NSC November 2024 · Paper 2 · Question 1.1.5

The inflation target range used by the South African Reserve Bank (SARB) is ...
Paper 2Contemporary Economic Issues(2 marks)

NSC November 2024 · Paper 2 · Question 1.1.6

The minimum length of stay for tourism activities should be … day(s).
Paper 2Contemporary Economic Issues(2 marks)

NSC November 2024 · Paper 2 · Question 1.1.7

A sustained decrease in the prices of goods and services over a period of time is called …
Paper 2Contemporary Economic Issues(2 marks)

NSC November 2024 · Paper 2 · Question 1.1.8

The process of removing trees from the land without replacing them, is known as …
Paper 2Microeconomics(2 marks)

NSC November 2025 · Paper 2 · Question 1.1.1

The costs that will always decrease when production increases, is referred to as … cost.
Paper 2Microeconomics(2 marks)

NSC November 2025 · Paper 2 · Question 1.1.2

The demand curve of a monopolistic competitor is …
Paper 2Microeconomics(2 marks)

NSC November 2025 · Paper 2 · Question 1.1.3

The price that is set by the government above the equilibrium price to allow producers to make a fair profit is called ...
Paper 2Microeconomics(2 marks)

NSC November 2025 · Paper 2 · Question 1.1.4

Failure by businesses to produce goods and services at the lowest possible average cost is called … inefficiency.
Paper 2Contemporary Economic Issues(2 marks)

NSC November 2025 · Paper 2 · Question 1.1.5

When the general price level increases, the real value of savings will …
Paper 2Contemporary Economic Issues(2 marks)

NSC November 2025 · Paper 2 · Question 1.1.6

The activities of people visiting places for meetings and conferences is known as … tourism.
Paper 2Contemporary Economic Issues(2 marks)

NSC November 2025 · Paper 2 · Question 1.1.7

Internet facilities needed by tourists is called … infrastructure.
Paper 2Contemporary Economic Issues(2 marks)

NSC November 2025 · Paper 2 · Question 1.1.8

The process of converting waste material into economic goods is known as …

Tip: press A–D to answer multiple choice, → for the next question.

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2024

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2023

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2022

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Term 4 (November)

Study Guides

Economics Grade 12 Exam Guide

How the final Economics exam is set out, taken from the cover and instruction pages of the DBE November 2025 question papers.

Economics Paper 1

  • 150 marks
  • 2 hours
  • 12 pages
  • November 2025
SectionQuestionWhat it coversMarksSuggested time
A1–Compulsory3020 min
B–Answer TWO of the three questions––
C–Answer ONE of the two questions––

Section B: answer TWO of the three questions; Section C: answer ONE of the two questions

Instructions on the paper
  1. Answer FOUR questions: Section A compulsory, TWO of three in Section B, ONE of two in Section C.
  2. Answers in excess of the required number will NOT be marked.
  3. Write the question number above each answer.
  4. Start EACH question on a NEW page.
  5. Answer in full sentences that comply with the cognitive requirements of the questions.
  6. Use only black or blue ink.
  7. You may use a non-programmable pocket calculator.

Economics Paper 2

  • 150 marks
  • 2 hours
  • 12 pages
  • November 2025
SectionQuestionWhat it coversMarksSuggested time
A1–Compulsory3020 min
B–Answer TWO of the three questions––
C–Answer ONE of the two questions––

Section B: answer TWO of the three questions; Section C: answer ONE of the two questions

Instructions on the paper
  1. Answer FOUR questions: Section A compulsory, TWO of three in Section B, ONE of two in Section C.
  2. Answers in excess of the required number will NOT be marked.
  3. Write the question number above each answer.
  4. Start EACH question on a NEW page.
  5. Answer in full sentences that comply with the cognitive requirements of the questions.
  6. Use only black or blue ink.
  7. You may use a non-programmable pocket calculator.

Economics Grade 12 Questions and Answers

How many papers do you write for Economics in Grade 12?

2 papers: Paper 1 (150 marks, 2 hours) and Paper 2 (150 marks, 2 hours). These facts are from the DBE November 2025 question papers.

Can you use a calculator in the Economics exam?

Yes. The November 2025 Paper 1 says: "You may use a non-programmable pocket calculator."

How long is the Economics question paper?

In November 2025, Paper 1 had 12 pages and Paper 2 had 12 pages.

Which Economics past papers are on this page?

283 files from 2020 to 2026, covering the March, June, September and November exams. They are listed by year and term above, and each one opens as a PDF.

Are the Economics memos included?

Yes. 192 of the files are memos (marking guidelines). Each memo is listed next to its question paper.

Are the Economics papers available in Afrikaans?

Yes. Most papers on this page come in English and Afrikaans. Use the language filter above the papers to show only one.

Is there an Economics practice quiz?

Yes. The exam questions quiz on this page has 48 questions taken word for word from real DBE Economics papers. The memo answer shows after you try each question.