Exam (elaborations)
ECS1601 Assignment 4 2024
- Course
- Economics IB
- Institution
- University Of South Africa (Unisa)
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Assessment 4: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=2142024 ECS1601-24-Y_AS4 Introduction Assessment 4
QUIZ
Started on Wednesday, 28 August
2024, 10:25 AM
State Finished
Completed on Wednesday, 28 August
2024, 11:22 AM
Time taken 56 mins 55 secs
Question 1
Complete
Marked out of 1.00
Consider the circular �ow of income.
Which of the following is correct?
a. Households purchase goods and
services in the factor market.
b. The government sector can only
purchase goods and services in
the factor market.
c. The government sector can
purchase factors of production in
the factor market.
d. The role of the foreign sector is to
only purchase goods and services
in the goods market.
1 of 17 2024/08/28, 11
,Assessment 4: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=214
Question 2
Complete
Marked out of 1.00
With reference to the circular �ow of
goods and services, complete the
following sentence: Suppose that Reneilwe
runs a construction company, where she
uses capital and labour. After completing
projects, the payment for services will
remunerate _______to ________in the
________ market.
a. interest; capital; factor
b. wages; entrepreneurship; factor
c. wages; capital; factor
d. wages; labour; goods
Question 3
Complete
Marked out of 1.00
The circular �ow model reveals that a
decrease in South African imports will … .
a. increase output and income in the
rest of the world
b. decrease South African imports
c. increase revenue to foreign �rms
d. increase revenue and domestic
production in South Africa
Question 4
Complete
Marked out of 1.00
Thabo bought an iPhone 14 this week at
one of the local malls. In which market did
he purchase the phone?
a. goods market
b. local market
c. factor market
d. labour market
2 of 17 2024/08/28, 11
,Assessment 4: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=214
Question 5
Complete
Marked out of 1.00
Which of the following statements is/are
correct about the difference between
direct and indirect �nancing?
a) Indirect �nancing takes place when the
de�cit units borrow directly from the
surplus units with the assistance of a
�nancial intermediary.
b) Direct �nancing takes place when the
de�cit units borrow directly from the
surplus units without the assistance of a
commercial bank.
c) Indirect �nancing takes place when
surplus units deposit funds with �nancial
intermediaries and the de�cit units borrow
from South African Reserve Bank.
b and c
a and b
a and c
b
a
Question 6
Complete
Marked out of 1.00
Which of the following statements is /are
incorrect in explaining the difference
between M1, M2, and M3
a) M3 consists of M2 plus a long-term
deposit and is more of a comprehensive
measure that includes funds held as a unit
of account.
b) M1 consists of cash in circulation
outside the monetary sector plus demand
deposit.
c) M2 consists of M1 plus short-term
deposit and medium-term deposit.
d) M2 consists of M1 plus quasi money.
a. a and d
b. b
c. a, c and d
d. a
e. b and d
3 of 17 2024/08/28, 11
,Assessment 4: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=214
Question 7
Complete
Marked out of 1.00
Which of the following statements are
correct about trade of goods and services?
a. The use of money eliminates the need
for a double coincidence of wants
associated with a barter economy.
b. An economy in which goods are traded
with money is called a barter economy.
c. Money consists of notes only.
a. All the statements are correct.
b. a.
c. a and c.
d. a and b.
Question 8
Complete
Marked out of 1.00
Zenokuhle applied for a credit card at
Absa Bank a week ago and her application
was approved. She now uses it to pay for
petrol and other essentials. Which of the
following statements is true about credit
card use?
a. Credit cards are a means to
facilitate payment and cannot be
regarded as money.
b. Credit cards are money because
they function as a medium of
exchange.
c. Credit cards are not seen as
money.
d. Credit cards and electronic money
are forms of money, as they can
be used as means of payment.
4 of 17 2024/08/28, 11
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