ECS1601 ASSIGNMENT 08 SEMESTER 2 2024 One of the objectives of the South African Reserve Bank is in ation targeting, and the in ation target for South Africa is between 3 and 6 per cent. There happe...
Chapter 1 - What economics is all about
ECS1601 Assignment 7 (COMPLETE ANSWERS) 2024 - DUE 29 October 2024
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Question 1 (5 marks) Maximum word count:
100 words 1.1 Suppose you live in South
Africa and have the option to buy proudly
South African products or international
brands. With reference to the circular flow
of goods and services and the circular flow
of income and spending between
households, firms, government and the
foreign sector, provide an explanation as to
why it is better to purchase the proudly
South African products and also explain the
opportunity costs of buying international
items instead of those produced locally. (5
marks)
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