Started on Thursday, 29 August 2024, 4:24 PM
State Finished
Completed on Thursday, 29 August 2024, 5:29 PM
Time taken 1 hour 5 mins
Question 1
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What is the correct definition of the opportunity cost of a choice?
a. the monetary value to the decision-maker of the choice made.
b. the monetary value of the best alternative that was chosen instead of the alternative.
c. the cost of the alternative.
d. the opportunity to make a different choice.
e. the value to the decision-maker of the alternative that could have been chosen.
Question 2
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Which one of the following statements is correct?
a. The difference between capital goods and consumer goods is that the former maintains their full value over time.
b. The total income in the economy is equal to the total remuneration of the factors of production.
c. The quality of the factors of production is insignificant; it is only the quantity that matters.
d. Capital as a factor of production refers to the amount of money required to produce a good or service.
Question 3
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Spending on goods produced in the _____ is a/an ______ into the circular flow of goods and services in the domestic economy.
Thabo bought an iPhone 14 this week at one of the local malls. In which market did he purchase the phone?
a. labour market
b. factor market
c. goods market
d. local market
Question 5
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Which of the following statements is/are correct about the difference between direct and indirect financing?
a) Indirect financing takes place when the deficit units borrow directly from the surplus units with the assistance of a financial
intermediary.
b) Direct financing takes place when the deficit units borrow directly from the surplus units without the assistance of a
commercial bank.
c) Indirect financing takes place when surplus units deposit funds with financial intermediaries and the deficit units borrow
from South African Reserve Bank.
a and b
b and c
a and c
b
a
Question 6
Complete
Marked out of 1.00
When the income level increases, the demand for …..money increases, which results in a/an …..increase.
a. speculative; active balance
b. speculative; passive balance
c. transaction; passive balance
d. transaction; active balance
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