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ECS1500 ASSIGNMENT 2 FOR 2023 R50,00
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ECS1500 ASSIGNMENT 2 FOR 2023

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  • March 12, 2023
  • March 16, 2023
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FENDTUTORIALS
ECS1500
ASSIGNMENT 2 FOR SEMESTER 1 2023




FEND TUTORIALS

,  Dashboard
 Courses
 UNISA
 2023
 Semester 1
 ECS1500-23-S1
 Welcome Message
 Assessment 2

Started on Thursday, 16 March 2023, 7:47 AM
State Finished
Completed on Thursday, 16 March 2023, 8:09 AM
Time taken 21 mins 37 secs
Marks 30.00/40.00
Grade 75.00 out of 100.00
Feedback Well done! You seem to understand Learning Units 3, 4 and 5 of ECS1500!
Question 1
Incorrect
Mark 0.00 out of 2.00




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Question text
Market clearing implies a situation whereby the supply curve crosses the y-axis.

Select one:

a.
True

b.
False
Feedback
Your answer is incorrect.
The statement is false. Market clearing (where the quantity demanded equals the quantity
supplied) refers to a situation where demand and supply curves intersect, thus where the
quantity demanded is equal to the quantity supply so that there is not excess supply or
excess demand.
The correct answer is: False

, Question 2
Correct
Mark 2.00 out of 2.00




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Question text
The relationship between the quantity demanded and the price can be represented by
means of a ...................

Select one:

a.
equilibrium market

b.
quantity demanded curve

c.
demand curve

d.
quantity supplied curve

e.
supply curve
Feedback
Your answer is correct.
The demand curve shows the quantities demanded in the market at each different price
level.
The correct answer is: demand curve

Question 3
Correct
Mark 2.00 out of 2.00




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