Imported services - Study guides, Study notes & Summaries

ECS2603 Assignment 4 Semester 2 2023.100% CORRECT questions, answers, workings and explanations. Question 1 Answer saved Marked out of 3.00 Flag question Question text Which of the following statements with regards to inflation are correct? Inflation is defined as a sustained increase in the general price level. This implies that for inflation to occur, it is sufficient for only the price of oil to increase. Inflation is a sustained increase in the general price level. This means that there is a...

This is a comprehensive summary of topics covered in applied taxation, specifically on Value Added Tax (VAT) in South Africa. The summary covers general rules for VAT, registration for VAT, accounting basis, time and value of supply, VAT levied, zero-rated supplies, and exempt supplies. It also includes detailed information on different types of supplies that are subject to VAT, including goods and services, imported goods and services, and financial services. The summary provides a useful guide...

Reference: Prescribed book PG 60 Households own factors of production (natural resources, labour, capital and entrepreneurship). They sell these factors to firms in the factor markets and receive rent (natural resources), wages and salaries (labour), interest (capital) and profit (entrepreneurship). Firms combine these factors of production to produce goods and services that are sold in the goods markets to households who use the income (derived from selling their factors of production) to ...

Oct/Nov 2021 TAX2601 Principles of Taxation 100 Marks Duration 2 Hours (plus 60 minutes for upload) This paper consists of nine (9) pages plus the annexure (p i). IMPORTANT INSTRUCTIONS: 1. All amounts exclude VAT unless stated otherwise. 2. All persons mentioned are residents of the Republic of South Africa unless stated otherwise. 3. SARS = South African Revenue Service The answering of this paper: 1. This paper consists of four (4) questions. 2. Answer all the questi...

CHAPTER ONE WORLD TRADE AND THE NATIONAL ECONOMY INTERNATIONAL ECONOMICS - A DEFINITION International economics is concerned with: "... the exchange of goods, services, factors of production and capital across national boundaries". Module ECS302 is concerned with the flow of goods, services, labour and direct foreign investment (DFI) between countries. On the other hand, module ECS303 examines the exchange of financial assets and liabilities, and the monetary aspects of interna...

ECS3701 Oct/Nov 2017 1. Explain the following terms i. Inflation targeting Monetary policy strategy that involves public announcement of a medium-term numerical target for inflation. ii. Interest rate risk The riskiness of earnings and returns that is associated with changes in interest rates iii. Monetary Policy Monetary policy can be defined as the measures taken by the monetary authorities to influence the quantity of money or the rate of interest with a view to achieving st...

ECS3701 Oct/Nov 2017 1. Explain the following terms i. Inflation targeting Monetary policy strategy that involves public announcement of a medium-term numerical target for inflation. ii. Interest rate risk The riskiness of earnings and returns that is associated with changes in interest rates iii. Monetary Policy Monetary policy can be defined as the measures taken by the monetary authorities to influence the quantity of money or the rate of interest with a view to achieving st...

Study Unit 1 What Economics is all about Economics is a social science that studies how people use scarce resources to satisfy their unlimited wants. Microeconomics looks at this at an individual, household or firm level while Macroeconomics is a broader look which is an aggregate of all the individuals, households and firms in a given economy. The main aspects in Microeconomic theory are supply, demand, scarcity, choices and opportunity cost. The Economic Problem Every individua...

ECS1601 EXAM REVISION PACK SUGGESTED SOLUTION FOR 2016 May/June Question 1 a) Money is anything that is generally accepted as payment for goods and services or that is accepted in settlement of debt. o Money is a generally acceptable means of payment o This is because people believe it will be accepted as payment by other people b) Three broad functions of government. o the allocative function, which refers to the role of government in correcting market failure and achieving a more effi...

ECS1601 LATEST SUMMARY. Study Unit 1 Chapter 3 page 41 Interdependence of the major sectors, markets and flows in a mixed economy 3.1 Production, income and spending The three major flows in the economy as a whole: Production Income Spending Production occurs, creates income; and all or part of the income is spent to buy goods and services. Flows Production, income and spending are all flows. They are measured over a period of time. This period must be specified. These are moving pi...