Summary
Summary ECS1500 ASSIGNMENT 05 SEMESTER 02 2023
- Course
- Economics 1500 (ECS1500)
- Institution
- University Of South Africa (Unisa)
ECS1500 ASSIGNMENT 05 SEMESTER 02 2023 SOLUTIONS
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9/19/23, 3:39 AM Assessment 5: Attempt reviewECS1500-23-S2 Welcome Message Assessment 5
QUIZ
Started on Tuesday, 19
September 2023, 3:02
AM
State Finished
Completed on Tuesday, 19
September 2023, 3:46
AM
Time taken 43 mins 9 secs
Marks 26.00/40.00
Grade 65.00 out of 100.00
Feedback Excellent
performance! You
seem to understand
Learning Units 6 and
7 that this learning
unit is based on.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13518191&cmid=622794 1/21
,9/19/23, 3:39 AM Assessment 5: Attempt review
Question 1
Correct
Mark 2.00 out of 2.00
When a worker is retrenched due to a new
technology that has taken over his/her
job, it is an example of cyclical
unemployment.
Select one:
True
False
When a worker is retrenched due to a new
technology taking over his/her job, it is an
example of structural unemployment.
This type of unemployment occurs when
the skills that people have do not match
the job requirements. When advanced
technology makes manual jobs obsolete,
it means that a higher level of skills,
education and technical competency is
required of potential workers.
Cyclical unemployment occurs when
there is a change in the demand for
certain goods and services in the
economy. This will result in a recession
because if there is a lower demand for
certain goods and services, firms in the
industries concerned will generate less
revenue, profits and returns on
investments. Once this happens, the
firms will no longer have enough money
to pay staff and suppliers. People will
lose their jobs as a result of these events.
The correct answer is 'False'.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13518191&cmid=622794 2/21
, 9/19/23, 3:39 AM Assessment 5: Attempt review
Question 2
Correct
Mark 2.00 out of 2.00
The macroeconomic objective to achieve
full employment refers to …
Select one:
a. full employment of all persons in
the society excluding those who
are under 15 and over 65.
b. full employment of everyone who
is between the ages 16–65 years
only.
c. full employment of all persons in
the society
d. full employment of the total
labour force.
Correct. One of the most important
objectives of an economy is to ensure
that the factors of production (labour,
capital, land etc.) are utilised to full
capacity and this includes ensuring that
the total labour force (those who are
willing and are available to work) are
employed. Not everyone in the society is
willing and is available to work and
therefore we do not include them in the
labour force.
One of the most important objectives of
an economy is to ensure that the factors
of production (labour, capital, land etc.)
are utilised to full capacity and this
includes ensuring that the total labour
force (those who are willing and are
available to work) are employed. Not
everyone in the society is willing and is
available to work and therefore we do not
include them in the labour force.
The correct answer is: full employment
of the total labour force.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13518191&cmid=622794 3/21
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