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ECS1500 ASSIGNMENT 3 SEMESTER 1 ANSWERS 2024
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ECS1500 ASSIGNMENT 3 SEMESTER 1 ANSWERS 2024
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ECS1500 Assignment 03 2024Student number: ……22053891………………….
Name: …………………RAESIBE THEORINE CHUENE……
Date submitted: …16/05/2024………………………
Word count: …816……………………………………………………………………………………………
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ACADEMIC INTEGRITY DECLARATION
1. I understand what academic dishonesty entails and am aware of UNISA’s policies in this
regard.
2. I declare that this assignment is my own, original work. Where I have used someone else’s
work I have indicated this by using the prescribed style of referencing. Every contribution to,
and quotation in, this assignment from the work or works of other people has been
referenced according to this style.
3. I have not allowed, and will not allow, anyone to copy my work with the intention of passing
it off as his or her own work.
4. I did not make use of another student’s work and submitted it as my own.
NAME: ……… RAESIBE THEORINE CHUENE………………………………………………………………….
STUDENT NUMBER: ……22053891………………………………………………
MODULE CODE: ............ECS1500.............................................................
SIGNATURE/ID NUMBER: …… RAESIBE THEORINE CHUENE ……………………………………………………….
DATE: ……………16/05/2024……………………………………………………….
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Question 1
The release of the new video game that requires SUPER CONSOLE will likely increase the demand for
the gaming console. This is because consumers who want to play the new game will need to
purchase the specific console in order to do so. As a result, the demand curve for SUPER CONSOLE
will shift to the right, indicating an increase in the quantity demanded at each price level.This
increase in demand will likely lead to higher prices for SUPER CONSOLE as suppliers may take
advantage of the increased demand to raise prices. The increase in price will result in a movement
along the supply curve, leading to a higher equilibrium price and quantity for the gaming console.As
a result of the increased demand and higher prices, the market for SUPER CONSOLE will experience
higher sales and possibly increased profits for the suppliers of the gaming console. The popularity of
the new video game will also likely lead to more consumers purchasing SUPER CONSOLE as a gift for
birthdays and Christmas, further boosting the demand for the gaming console.Overall, the release of
the new video game will have a positive impact on the market for SUPER CONSOLE, leading to
increased demand, higher prices, and increased sales for the gaming console.
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