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2025 - ECS1501 - ASSESSMENT 1 - QUESTIONS AND ANSWERS R85,33
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2025 - ECS1501 - ASSESSMENT 1 - QUESTIONS AND ANSWERS
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  • December 11, 2024
  • 86
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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2025 – ECS1501 – ASSESSMENT 1 – EXPECTED QUESTIONS AND ANSWERS



Assessment 1
Started on Sunday, 5 May 2024,
State Finished
Completed on Sunday, 5 May 2024,
Time taken
Marks 10.00/10.00
Grade 100.00 out of 100.00


Question 1
I confirm

that this assessment will be my own individual work;

that I will not communicate with anyone else in any way during the completion of this
assessment;

that I will not cheat in any way in completing and submitting this assessment.




I confirm.



I do not confirm.



Question 2
An increase in the nation's capital stock will



cause a movement along the PPC upward and leftward.



shift the PPC outward.




1

, 2025 – ECS1501 – ASSESSMENT 1 – EXPECTED QUESTIONS AND ANSWERS


move the nation from producing within the PPC to producing at a point closer to the
PPC.



cause a movement along the PPC downward and rightward.

Feedback
When the nation's capital stock increases, it causes the PPC to shift outward, away
from the origin. This shift signifies that the economy's potential to produce both
goods has increased. It indicates that the nation can now produce more of both
goods.


Question 3
Capital accumulation



shifts the production possibilities curve outward.



makes the production possibilities curve steeper.



shifts the production possibilities curve inward.



has no impact on the production possibilities curve.

Feedback
Capital accumulation positively impacts the PPC by expanding the economy's
production possibilities resulting in an outward shift of the curve. This shift represents
an economy's ability to produce more goods and services, ultimately contributing to
its growth and prosperity.



Question 4
If production of two goods is currently at levels such that we are inside the
production possibilities curve


2

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