Ecs1500 exam pack - Study guides, Study notes & Summaries

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ECS1500 Exam Pack Answers for past examination papers. (Latest updated 2023) this packs contains everything you need for upcoming assignments as well as for examination time. This is not only an exam memo pack but also great for assignments! All the best for your studies! UNISA often repeats questions on different formats so these packs are always useful in grasping the basics and knowing how they ask questions in different ways!

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ECS1500 MCQs Exam Pack

ECS1500 EXAM PACK REVISION QUESTION AND ANSWER. We have observed that both the price and the quantity sold of golf balls are raising over time. This is due to ….. 1. Continual improvements in the technology used to produce golf balls. 2. Increases in the price of golf clubs over time. 3. Decreases in membership fees for country clubs with golf facilities. 4. An increase in the number of country clubs with golf facilities. 2. The price of good A goes up. As a result, the demand for good...

1. A normal good is one for which the income elasticity is greater than one. a. True b. False 2. The demand for a good, perceived by the consumer to be a necessity, will tend to be elastic. a. True b. False 3. Macroeconomics is concerned with the study of how households and firms make decisions and how they interact in specific markets a. True b. False 4. Price and quantity demanded for most goods are positively related a. True b. False 5. If three variables are related, one of them...

ECS1500 LMultiple Choice Questions (Section A): (A) 1. A normal good is one for which the income elasticity is greater than one. a. True b. False 2. The demand for a good, perceived by the consumer to be a necessity, will tend to be elastic. a. True b. False 3. Macroeconomics is concerned with the study of how households and firms make decisions and how they interact in specific markets a. True b. False 4. Price and quantity demanded for most goods are positively related a. True b....

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