Macroeconomics 1st year [University] Notes [ECO10B]
ECS1501 Assignment 2 (QUIZ) Semester 1 2023
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University of South Africa (Unisa)
ECS1501 - Economics IA
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4/7/23, 8:05 AM Assessment 4: Attempt review
Started on Friday, 7 April 2023, 12:14 AM
State Finished
Completed on Friday, 7 April 2023, 8:04 AM
Time taken 7 hours 49 mins
Marks 17.50/21.00
Grade 83.33 out of 100.00
Question 1
Complete
Mark 1.00 out of 1.00
I confirm
that this assessment will be my own individual work;
that I will not communicate with anyone else in any way during the completion of this assessment;
that I will not cheat in any way in completing and submitting this assessment.
decrease in the demand for torches.
decrease in the demand for batteries.
increase in the demand for torches.
increase in the demand for batteries.
This question deals with shifts of versus movements along curves. The easiest way to deal with the distinction between the two is to remember
that if there is a change in price (and only if there is a change in price), we have a change in quantity demanded. A change in quantity demanded
is shown by a movement along the demand curve. If any of the other determinants of demand change (income, taste, fashion …) there is a
change in demand, which is illustrated by a shift of the demand curve. A higher price for batteries will result in a decrease in the quantity
demanded of batteries, the demand for torches (a complement) will decrease.
Question 6
Complete
Mark 1.00 out of 1.00
The movement from point A to point B on the graph shows
an increase in quantity demanded.
a decrease in quantity demanded.
an increase in demand.
a decrease in demand.
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