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Ecs1501 Assignment 6 2024
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Assessment 6: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=2052024 ECS1501-24-Y Assessments Assessment 6
QUIZ
Started on Friday, 2 August 2024,
11:17 AM
State Finished
Completed on Friday, 2 August 2024,
11:36 AM
Time taken 18 mins 57 secs
Marks 12.00/12.00
Grade 100.00 out of 100.00
Question 1
Complete
Not graded
I con�rm
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.
I con�rm.
I do not con�rm.
1 of 10 2024/08/02, 11
,Assessment 6: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=205
Question 2
Complete
Mark 1.00 out of 1.00
What does the price elasticity of demand
measure?
how sensitive the price is to changes
in the quantity demanded
the slope of the demand curve
the responsiveness of the quantity
demanded of a good to changes in
the price of the good
how sensitive the quantity demanded
of a good is to changes in income
The price elasticity of demand measures
the responsiveness of the quantity
demanded of a good to changes in the
price of the good.
Question 3
Complete
Mark 1.00 out of 1.00
If the owners of Ster Kinekor movie
theatres discounted the price of admission
fees by 30 per cent, average attendance
would rise by 50 per cent. Based on this
data, it could be concluded that the price
elasticity of demand for movie tickets is
unitary elastic.
perfectly elastic.
elastic.
inelastic.
2 of 10 2024/08/02, 11
,Assessment 6: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=205
Question 4
Complete
Mark 1.00 out of 1.00
A perfectly elastic demand curve is
horizontal (ie parallel to the quantity axis).
Note, you will lose 50% of the mark for this
question if you choose the incorrect
option.
If you are not sure about the answer and
do not want to guess, choose the “Unsure”
option. You will neither receive marks for
the question nor will you lose marks for
choosing this option.
True
False
Unsure
A perfectly elastic demand curve is
horizontal, meaning that consumers are
extremely responsive to changes in price.
3 of 10 2024/08/02, 11
,Assessment 6: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=205
Question 5
Complete
Mark 1.00 out of 1.00
The price elasticity of the demand for
steak will be greater than the price
elasticity of demand for meat (ie all types
of meat).
Note, you will lose 50% of the mark for this
question if you choose the incorrect
option.
If you are not sure about the answer and
do not want to guess, choose the “Unsure”
option. You will neither receive marks for
the question nor will you lose marks for
choosing this option.
True
False
Unsure
The price elasticity of demand for a
speci�c type of product, such as steak,
tends to be higher than the price elasticity
of demand for a broader category of
products, such as meat in general.
4 of 10 2024/08/02, 11
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