ECS1500
ASSIGNMENT 3
2022.
ECS1500 - Economics 1500
The role of the public sector is to control the money supply and interest rates to
achieve economic stability.
[1] True
[2] False
Government includes all politicians, civil servants, government agencies and
other bodies belonging to or un...
ASSIGNMENT 03 (FIRST SEMESTER)
UNIQUE NUMBER 301297
CLOSING DATE 19 April2022
LEARNING UNITS 8 to 10
WEIGHT FOR SEMESTER MARK 30% of semester mark
NUMBER OF QUESTIONS 20
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
Government includes all politicians, civil servants, government agencies and
other bodies belonging to or under the control of government. It therefore
includes the President, cabinet ministers, provincial premiers, mayors,
everyone working for central government, provincial governments and
municipalities, and public corporations such as Eskom, Transnet and the South
African Reserve Bank. Page 48 Philip mohr
3.2 Public enterprises such as Eskom and PRASA are a component of the South
African public sector.
[1] True
[2] False
These are included in institutions covered above.
3.3 The distribution function of government refers to the government promoting
efficiency by implementing legislation to ensure certain minimum standards.
[1] True
[2] False
By definition, a socially undesirable income distribution is one with which society
is unhappy. Government, as the representative of society, must therefore take
steps to achieve a more acceptable (or more equitable) distribution. The
measures that governments usually take in this regard include progressive
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