2025 – ECS1601 - Assessment 9: Alternative Assessment 1 – EXPECTED QUESTIONS AND ANSWERS
Assessment 9: Alternative Assessment 1
Started on Saturday, 3 August 2024,
State Finished
Completed on Saturday, 3 August 2024,
Time taken
Marks 16.00/16.00
Grade 10.00 out of 10.00 (100%)
Question 1
Which one of the following statements describe a leakage from the circular flow of
income and spending in South Africa?
Select one:
a.
Investment by a Lesotho beer company in a new brewery in South Africa.
b.
A decision by a major supermarket chain to sell chicken from Brazil.
c.
The sale of fruit exports to the European Union.
d.
Defence expenditure by South African government, via contracts with local
companies.
Feedback
The correct answer is: A decision by a major supermarket chain to sell chicken from
Brazil.
1
, 2025 – ECS1601 - Assessment 9: Alternative Assessment 1 – EXPECTED QUESTIONS AND ANSWERS
Question 2
Which of the following statements about the circular flow of production, income, and
spending is/are true?
(1) Firms are sellers in the factor market and buyers in the goods markets.
(2) In the real sector, both factors of production and goods and services are traded.
(3) In the circular flow of economic activity, the financial sector operates
independently of the real sector.
(4) Households are both sellers and buyers in the flow of economic activities.
Select one:
a.
(2) (3)
b.
(4)
c.
(1) (3) (4)
d.
(1) (4)
Feedback
The correct answer is: (2) (3)
Question 3
In the circular flow of income and spending in South Africa,______households in the
goods market becomes______firms.
Select one:
2
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