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ECS1601 ASSIGNMENT 6 SEMESTER 2 2023 (100%) (DUE MONDAY 13 NOV 2023)
DISTINCTION MATERIAL
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By: anjekloppers • 10 months ago
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ECS1601 ASSIGNMENT 6 (SIX)SEMESTER 2 2023
DUE Monday, 13 NOVEMBER
2023
E C S 1601
A S S IG N M E N T 2 (T W O )
SEM ESTER 2
2023
,THIS DOCUMENT CONTAINS OVER 100 QUESTIONS FROM
UNIQUE ATTEMPS ALL WITH 100% SCORES TO COVER ALL THE
QUESTIONS FOR ASSIGNMENT 6. ALL QUESTIONS ARE FROM
SEMESTER 2-2023.
,Assessment 6: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=144
ECS1601-23-S2 Online assessments Assessment 6
QUIZ
Started on Friday, 10 November 2023, 6:44 PM
State Finished
Completed on Friday, 10 November 2023, 7:40 PM
Time taken 56 mins 26 secs
Marks 25.00/25.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
Which of the following statements is/are correct criteria of the good tax?
a. Good taxation should have more possible effects of distorting relative prices.
b. It is regarded as good tax if various taxpayers with different incomes are taxed
the same.
c. It is regarded as good tax if the tax burden is spread fairly among various
taxpayers.
d. Administrative simplicity in the tax system ensures neutrality and equality.
a. a, b, c and d
b. a, b and d
c. c and d.
d. b, c and d
Only statements c and d are correct about criteria for good taxes.
1 of 20 11/10/2023, 7:42
,Assessment 6: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=144
Question 2
Correct
Mark 1.00 out of 1.00
The table below shows the volumes of cars and computers produced in two nations.
To bene�t from trade, Nation 1 should specialise in the production of … while Nation B
should specialise in the production of …
a. cars; computers.
b. computers; cars.
c. both cars and computers;
d. some other product;
Comparative advantage is associated with the opportunity cost that is forgone.
Nation 2 has an absolute advantage over the production of both goods. However,
nation 1 should produce computers and nation 2 should produce cars due to the
opportunity cost that is forgone when producing computers.
Calculate the opportunity costs of production as follows:
Nation 1: Opportunity cost of producing cars only is: 120800=0.15
Opportunity cost of producing computers only is: 800120=6.67
Nation 2: Opportunity cost of producing cars only is: 2501200=0.21
Opportunity cost of producing computers only is: 1200250=4.8 12
Based on these calculations, each nation should specialise in the production of a
good in which the opportunity costs are relatively lower. Therefore, nation 1 should
produce cars, while nation 2 should produce computers.
Question 3
Correct
Mark 1.00 out of 1.00
Nationalisation refers to …
a. the acquisition of commercial companies by the public sector.
b. the acquisition of private companies by the public sector.
c. the acquisition of public companies by the private sector.
d. the acquisition of mining companies by the private sector.
Nationalisation is the transfer of ownership or management of an industry or entity to
the government with or without compensation.
2 of 20 11/10/2023, 7:42
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