Exam (elaborations)

ECS1601 ASSESSMENT 9 alternative to 1 2024 Which of the following best describes natural resources? Select one: a. They are unlimited in supply. b. They are remunerated by rent. c. They consist of machines, buildings and tools. d. They can be repla

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Course
Economics IB (ECS1601)

Institution
University Of South Africa (Unisa)

Book
Economics for South African Students

ECS1601 ASSESSMENT 9 alternative to 1 2024 Which of the following best describes natural resources? Select one: a. They are unlimited in supply. b. They are remunerated by rent. c. They consist of machines, buildings and tools. d. They can be replaced. In the circular ow of goods ...

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Uploaded on August 4, 2024
Number of pages 108
Written in 2024/2025
Type Exam (elaborations)
Contains Questions & answers

ecs1601 assessment 9 alternative to 1 2024

Book Title:Economics for South African Students

Author(s):Philip Mohr

Edition:2015
ISBN:9780627033438
Edition:Unknown

Exam (elaborations)
ECS1601 Assignment 7 (COMPLETE ANSWERS) 2024 - DUE 29 October 2024
Exam (elaborations)
ECS1601 Assignment 7 (COMPLETE ANSWERS) 2024 - DUE 29 October 2024 - Course Economics IB (ECS1601)
Exam (elaborations)
ECS1601 Assignment 7 (COMPLETE ANSWERS) 2024 - DUE 29 October 2024; 100% TRUSTED Complete, trusted solutions and explanations.Ensure your success with us...

Institution
University of South Africa (Unisa)
Course
Economics IB (ECS1601)

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,8/4/24, 5:02 AM Assessment 9: Alternative Assessment 1: Attempt review

UNISA  2024  ECS1601-24-Y_AS2  Introduction  Assessment 9: Alternative Assessment 1

QUIZ

Started on Sunday, 4 August 2024, 4:36 AM
State Finished
Completed on Sunday, 4 August 2024, 4:54 AM
Time taken 18 mins 45 secs
Marks 15.00/16.00
Grade 9.38 out of 10.00 (93.75%)

Question 1
Complete

Mark 1.00 out of 1.00

Which of the following statements is true with regard to injection and leakage in the domestic economy?

Select one:
a. The income gains by households and firms in the circular flow of income and spending are injections.
b. Government spending on imports is an injection because money is added to the circular flow of income and
spending.
c. Spending by foreign countries on a domestic economy constitutes an injection in the circular flow of income and
spending.
d. Injection occurs when there is an outflow of money from the circular flow of income and spending to the
government.

Question 2
Complete

Mark 1.00 out of 1.00

Which one of the following statements describe a leakage from the circular flow of income and spending in South Africa?

Select one:
a. Investment by a Lesotho beer company in a new brewery in South Africa.
b. A decision by a major supermarket chain to sell chicken from Brazil.
c. The sale of fruit exports to the European Union.
d. Defence expenditure by South African government, via contracts with local companies.

https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=20548014&cmid=1026068 1/10

,8/4/24, 5:02 AM Assessment 9: Alternative Assessment 1: Attempt review

Question 3

Complete

Mark 1.00 out of 1.00

Which of the following best describes natural resources?

Select one:
a. They are unlimited in supply.
b. They are remunerated by rent.
c. They consist of machines, buildings and tools.
d. They can be replaced.

Question 4

Complete

Mark 1.00 out of 1.00

In the circular flow of goods and services______

Select one:
a. households are the suppliers of factors of production in the goods market.
b. households combine various production inputs to produce outputs or goods and services.
c. firms buy factors of production from households in the good market.
d. production inputs offered for sale on the factor market are traded by households.

Question 5
Complete

Mark 1.00 out of 1.00

Which of the following statements about the circular flow of production, income, and spending is/are true?
(1) Firms are sellers in the factor market and buyers in the goods markets.

(2) In the real sector, both factors of production and goods and services are traded.

(3) In the circular flow of economic activity, the financial sector operates independently of the real sector.

(4) Households are both sellers and buyers in the flow of economic activities.

Select one:
a. (2) (3)

b. (4)

c. (1) (3) (4)

d. (1) (4)

https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=20548014&cmid=1026068 2/10

, 8/4/24, 5:02 AM Assessment 9: Alternative Assessment 1: Attempt review

Question 6

Complete

Mark 1.00 out of 1.00

Which of the following statements is/are NOT an example of macroeconomics?

a) An increase in the general price level in the economy.

b) Shoprite (Africa’s largest supermarket retailer)'s decision to keep the price of basic goods unchanged even when inflation
is rising.

c) The price of oranges at the supermarket.

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

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

Question 7

Complete

Mark 1.00 out of 1.00

Have a look at the following information and answer the question below.

Suppose that a firm is spending R49 million per month on salaries, which are allocated as follows:

Monthly Salaries - 2020 Monthly Salaries - 2021

CEO R 21 million R 22 million

Executives R 15 million R 16 million

Three thousand employees R 13 million R 14 million

Assume that the CEO spend 0.5%, while executives spend 2% and employees 65% of their monthly salaries on goods and
services in both years.

(Round off your answers to two decimals). Example on how you should type in your answers:
For percentage answer: 1,55%
For amount answer: 300,56

Calculate the percentage change for CEO’s monthly salary between 2020 and 2021. Type in your answer 4,76%

https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=20548014&cmid=1026068 3/10

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Exam (elaborations)

ECS1601 ASSESSMENT 9 alternative to 1 2024 Which of the following best describes natural resources? Select one: a. They are unlimited in supply. b. They are remunerated by rent. c. They consist of machines, buildings and tools. d. They can be repla

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