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ECS1500 Assignment 03 2021 AS PER UPDATED TUTORIAL LETTER (To be used as a guideline only) R50,00   Add to cart
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ECS1500 Assignment 03 2021 AS PER UPDATED TUTORIAL LETTER (To be used as a guideline only)
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This document includes the assignment questions, answers and explanations/page references where applicable.

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  • June 25, 2021
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  • 2020/2021
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Economics 1500
Department of Economics
Assignment 03 2021 (compulsory)
Unique Number 301297




Please answer this assignment on the prescribed answer sheet on myUnisa or on hard copy.
Feedback on these questions will be provided on myUnisa under Additional Resources after
the final closing date for the assignment.

For Questions 3.1 to 3.5 you need to indicate whether the statement is true or false. If the
statement is true, choose [1] and if the statement is false, choose [2].

3.1 The role of the public sector is to control the money supply and interest rates to achieve
economic stability.

[1] True
[2] False

Answer:

, Government’s economic activity thus involves three important flows:

• Government expenditure on goods and services (including factor services) – this is
usually denoted by the symbol G.
• taxes levied on (and paid by) households and firms – taxes are usually represented
by the symbol T.
• transfer payments, that is, the transfer of income and expenditure from certain
individuals and groups (e.g. the wealthy) to other individuals and groups (e.g. the
poor)

3.2 Public enterprises such as Eskom and PRASA are a component of the South African
public sector.

[1] True
[2] False

Answer:

Refer to page 162 of the study guide:

The public sector in South Africa consists of

• the central government, which concentrates on national issues such as defence and
foreign affairs (South Africa’s relationship with the rest of the world);
• the provincial and regional government, which concentrates on regional issues such as
education and health services;
• the local governments, which are involved with local issues such as street lighting and
local roads; and
• public corporations and public enterprises, such as the SABC and Eskom.

The central government, regional and local authorities together are called the general
government.

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