100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
ECS1601 Assignment 7 (DETAILED ANSWERS) Semester 2 2024 - DISTINCTION GUARANTEED CA$3.98   Add to cart

Exam (elaborations)

ECS1601 Assignment 7 (DETAILED ANSWERS) Semester 2 2024 - DISTINCTION GUARANTEED

3 reviews
 205 views  11 purchases
  • Course
  • Institution
  • Book

ECS1601 Assignment 7 (DETAILED ANSWERS) Semester 2 2024 - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED Answers, guidelines, workings and references ,... Question 1 (5 marks) Maximum word count: 100 words 1.1 Suppose you live in South Africa and have the option to buy p...

[Show more]

Preview 2 out of 8  pages

  • October 27, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

3  reviews

review-writer-avatar

By: tsebi4848 • 3 weeks ago

review-writer-avatar

By: Gdogg71483 • 3 weeks ago

review-writer-avatar

By: snnhlengethwa • 3 weeks ago

avatar-seller
ECS1601
Assignment 7 2024
Unique #:
Due Date: 29 October 2024



Detailed solutions, explanations, workings
and references.

+27 81 278 3372

, QUESTION 1

1.1.

Choosing to buy proudly South African products positively impacts the circular
flow of income and spending within South Africa's economy. When consumers
purchase locally produced goods, income circulates within the domestic market,
benefiting South African households and firms. These transactions generate
higher demand for local goods, leading to increased production, more
employment opportunities, and higher incomes. Local firms may also contribute to
the government’s revenue through taxes, which, in turn, funds public services and
infrastructure, further stimulating economic growth.

In contrast, buying international brands redirects spending outside the country,
reducing the income circulating within South Africa and weakening local
businesses. The opportunity cost of choosing imported goods is the potential loss
of domestic job creation, tax revenue, and investment in local industries. By
purchasing locally, consumers strengthen the economy, supporting sustainable
growth and reducing dependency on foreign markets.



QUESTION 2

2.1.

The slower economic growth in South Africa, as indicated by the lower-than-
expected GDP growth of 0.9% year-on-year in the fourth quarter of 2022, will
impact the money market by reducing the demand for funds. A lower growth rate
suggests that businesses and households may be less inclined to borrow for
investments or consumption, reducing the demand for money in the economy.




Varsity Cube 2024 +27 81 278 3372

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 VarsityC. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$3.98. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

66579 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling

Recently viewed by you


CA$3.98  11x  sold
  • (3)
  Add to cart