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Summary ECS1501 SUMMARISED NOTES
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ECS1501 SUMMARISED NOTES
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lOMoARcPSD|8436517ECS1501 SUMMARISED NOTES
Tabitha Bailey;Jerome Cornelius
[COMPANY NAME] [Company address]
Downloaded by Rufaro Chikovore (chikosrufa@gmail.com)
,
, lOMoARcPSD|8436517
Together We
Pass
Tel: 021 447 5288
Email:
info@togetherwepass.co.za Website:
www.togetherwepass.co.za
This set of study notes is designed to explain the examinable outcomes in greater depth to assist you in passing
ECS1501. That means it does not cover every topic or idea in your study guide and text book, but rather gives
you fuller information on those concepts that UNISA will test you on in the final exams.
If you need additional assistance with your studies please try our study groups , which allow you discuss the
concepts outlined here, and also to compare and discuss your assignments in a cheat free environment. This
improves your understanding, and at the end of the day your marks.
Keep an eye out in September for our Test Prep Packs – online tests that let you practice for exams and that
also gives you detailed analytics about what you know and don’t know about your ECS1501 course! Now you
can study SMARTER instead of studying HARDER!! See the end of these study notes to find out more!
We wish you luck with this subject!!
Table Of Contents
Page
Page 4 Study Unit 1: About Economics
Page 8 Study Unit 2: The economic problem
Page 12 Study Unit 3: The mixed economy
Page 16 Study Unit 4: Demand, supply and prices
Page 24 Study Unit 5: Demand and supply in action
Page 30 Study Unit 6: Elasticity
Page 34 Study Unit 7: Consumer choice theory
Page 41 Study Unit 8: Production and cost theory
Page 46 Study Unit 9: Perfect competition
Page 51 Study Unit 10: Other market structures
Page 53 Study Unit 11:The labour market
Disclaimer: Together We Pass is an independent company that is no way affiliated to or sanctioned by UNISA. All
our materials are written by our own staff, and are intended as support to assist UNISA students to further
understand that course material.
Downloaded by Rufaro Chikovore (chikosrufa@gmail.com)
, © 2013 Together We Pass. All rights reserved.
pg. 1
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