100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
2025 - ECS1601 - ASSESSMENT 1 - QUESTIONS AND ANSWERS $4.75
Add to cart
Quickly navigate to
Preview
  2.  
  3. University Of South Africa (Unisa)
  4.  
  5. Economics IB (ECS1601)

Exam (elaborations)

2025 - ECS1601 - ASSESSMENT 1 - QUESTIONS AND ANSWERS
 0 purchase
  • Course
  • Economics IB (ECS1601)
  • Institution
  • University Of South Africa (Unisa)

This document contains different assessments, all with scores ranging from 90% to 100%. Using it appropriately ensures passing with distinction.

Preview 2 out of 116  pages

Document information

  • January 6, 2025
  • 116
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • questions and answers

Written for

  • University of South Africa (Unisa)
  • Economics IB (ECS1601)
All documents for this subject (171)

Seller

avatar-seller
sotholesacademicachievers

Content preview

2024 – S1 – ECS1601 – ASSESSMENT 1 – Q&A



Assessment 1
Started on Saturday, 18 May 2024,
State Finished
Completed on Saturday, 18 May 2024,
Time taken
Marks 16.00/16.00
Grade 100.00 out of 100.00


Question 1
Which of the following is/are correct regarding the distinction between
microeconomics and macroeconomics?




a) An increase in the general price level in the economy is an example of
macroeconomic variables.

b) The SARB decided to keep the repo rate unchanged at 3.5%; this is in line with
expectations of most economists.

c) The price of oranges at the supermarket is an example of the microeconomic
variables.

a.
b only
b.
a only
c.
a and b
d.
a, b and c
e.
b and c

Feedback


1

, 2024 – S1 – ECS1601 – ASSESSMENT 1 – Q&A


Refer to the distinction between macroeconomics and microeconomics on page 2 of
the prescribed textbook.



Question 2
Which one of the following is the main objective of macroeconomic policy?

a.
Unemployment
b.
Equitable distribution of income
c.
Price instability
d.
Sluggish economic growth

Feedback
The main macroeconomic objectives are an equitable distribution of income, balance
of payments stability, full employment, price stability and economic growth.



Question 3
Which of the following best describes a firm?



a.
A company that sells goods and services.

b.
A unit that combines factors of production to produce goods and services for its own
use.

c.
A unit that makes use of factors of production to produce goods and services that
are sold in the goods market.

d.
Economic decision unit that decides what to produce in a market economy.


2

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller sotholesacademicachievers. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $4.75. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

64450 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$4.75
  • (0)
Add to cart
Added