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ECS1501 ASSIGNMENT 1 SOLUTIONS SEMESTER 1 YEAR 2022
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ECS1501 ASSIGNMENT 1 SOLUTIONS SEMESTER 1 YEAR 2022
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ECS1501ECONOMICS 1A
ASSIGNMENT 1 ANSWERS
SEMESTER 1 2022
, When a farmer in Limpopo Province decides to harvest lettuce by the use of machines
instead of by migrant workers, the farmer is answering the question.
Select one:
o ‘How?’
o ‘What?’
o ‘For whom?’
In every economic system, choices must be made because resources are and
wants are
Select one:
o limited; unlimited
o unlimited ; limited
o unlimited; unlimited
o limited; limited
How would an economist view a commercial forest that provides raw material inputs for a
wood pulp mill?
o as an unproductive asset, since it may take several years before the forest is ready for
harvesting
o as part of the capital stock of the economy
o as the unproductive use of land and therefore not a factor of production
o as part of the factors of production, natural resources
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