SECTION A (COMPULSORY) 30 MARKS - 20 MINUTES QUESTION 1 Various options are provided as possible answers to the following questions. Choose the 1.1 answer and write only the letter (A-D) next to the question number (1.1.1-1.1.8) in the ANSWER BOOK for example 1.1.9 D What do we call the satisfaction that a consumer derives from each additional 1.1.1 1.17 product that they consume? A total utility ownership utility price utility marginal utility 1.1.2 World markets are also known as ... markets. collective 1.1 black domestic global 1.1.3 Monopoly market is characterised by ... A differentiation of products perfect information of products unique products O homogenous products 1.1.4 A characteristic of an imperfect market: there is one supplier or a few large suppliers 1 00 D products are homogenous there are no barriers to entry O there are many buyers and sellers 1.1.5 Formal meetings between unions and a group employers. Collective bargaining Workplace forums CCMA Mediation