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Exam (elaborations)

ECS1500 ASSESSMENT 3 SEM 1 OF 2024 EXPECTED SOLUTIONS

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This DOCUMENT CONTAINS ECS1500 ASSESSMENT 3 SEM 1 OF 2024 EXPECTED SOLUTIONS.USING IT CORRECTLY AS A GUIDE WILL HELP YOU SCORE ABOVE 75%

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  • April 18, 2024
  • 5
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
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oscardiura
ECS1500
ASSESSMENT 3 OF 2024
OSCAR DIURA
oscardiura@gmail.com
0737560989
For FAC,ECS,MAC,DSC, TAX,STA,FIN,INV, QMI,BNU DSC
tutoring




QUESTION 1

The release of this popular, SUPER CONSOLE exclusive video game will likely cause a posi ve shi in
demand for SUPER CONSOLE. This can be visualized as a movement of the demand curve to the right
(increased demand). With more people wan ng the console to play the game, the equilibrium price is
likely to rise (shown by an upward arrow) and the equilibrium quan ty of SUPER CONSOLE sold will also
increase (shown by a rightward arrow).

, QUESTION 2

No words allowed, only a diagram with annota ons

Recently an outbreak of Avian flu meant that a large percentage of chickens in South Africa had to be
killed. Use a diagram to illustrate how this will affect the market for eggs in South Africa. Clearly indicate
how the equilibrium price and equilibrium quan ty of eggs will change in South Africa. The direc on of
any changes should be clearly indicated using arrows.

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