Exam (elaborations)
ECS2606 Assignment 1 Semester 2 2024 (583390) - DUE 15 August 2024
- Institution
- University Of South Africa (Unisa)
ECS2606 Assignment 1 Semester 2 2024 (583390) - DUE 15 August 2024 QUESTIONS WITH ANSWERS
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ECS2606 Assignment 1Semester 2 2024 (583390) -
DUE 15 August 2024
QUESTIONS WITH ANSWERS
, ECS2606 Assignment 1 Semester 2 2024 (583390) - DUE 15 August
2024
1. Discuss and diagrammatically illustrate the fundamental balance
principle. [10]
Read the excerpt below and answer the question that follows: Africa
has made significant strides in the growth of its solar energy industry in
recent years, with the continent seeing an increase of over 1.8W in new
solar installations, primarily led by Egypt, South Africa, Kenya, Namibia,
and Ghana. In order to simultaneously speed up energy access and
support sustainable economic growth, Africa’s renewable energy mix
has increasingly switched away from conventional hydropower and
thermal facilities to renewable alternatives.
2. Explain and graphically illustrate how this technology will affect
Africa’s marginal cost curve for the supply of electricity. [10]
1. The Fundamental Balance Principle
The Fundamental Balance Principle in economic terms typically refers
to the equilibrium where supply equals demand. This principle is crucial
in various fields, including economics, energy management, and
financial planning. It ensures that the resources are allocated efficiently,
preventing surpluses and shortages.
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