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ECS1500 Assignment 6 Semester 2 2023
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9/25/23, 4:31 PM Assessment 6: Attempt reviewUNISA 2023 ECS1500-23-S2 Welcome Message Assessment 6
QUIZ
Started on Monday, 25 September 2023, 4:05 PM
State Finished
Completed on Monday, 25 September 2023, 4:31 PM
Time taken 25 mins 47 secs
Marks 36.00/40.00
Grade 90.00 out of 100.00
Feedback Excellent performance. You seem to understand Learning Units
8, 9 and 10 well.
Question 1
Correct
Mark 2.00 out of 2.00
One of the functions of money is a store of value, therefore diamonds can be
regarded as money as the value of diamonds has remained rather stable over the
year.
Select one:
a. True
b. False
Your answer is correct.
Money has two main functions, namely as a medium of exchange and a store of
value. The medium of exchange function is unique to money, while the store of
value function is not unique to money. Diamonds are assets that retain their value
rather effectively. However, since diamonds are not generally acceptable as a
medium of exchange, due to several practical considerations, they are not regarded
as money.
The correct answer is: False
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13682638&cmid=622795 1/15
,9/25/23, 4:31 PM Assessment 6: Attempt review
Question 2
Correct
Mark 2.00 out of 2.00
Which of the following statements regarding the nancial system is not correct?
a. Financial intermediaries facilitate lending and borrowing activities between
surplus and de cit units.
b. Unit trusts are classi ed as collective investment schemes.
c. Shares and bonds are examples of capital market instruments.
d. Shares can only be traded at a physical location or building, such as the
Johannesburg Stock Exchange (JSE).
Your answer is correct.
Shares can be traded online on various platforms other than the Johannesburg Stock
Exchange (JSE), using computers and smartphones. Therefore, trading is
not restricted to a physical location or building.
Financial intermediaries exist to assist in transferring funds from surplus units
(those who have savings or excess cash to lend money) to de cit units (those who
wish to borrow money). Financial intermediaries intervene to make this process
easier.
Unit trusts pool investors’ monies together into a single fund. These monies are then
split across different nancial instruments to reduce exposure to risk of losing
capital invested. This is why unit trusts are classi ed as a collective investment
scheme.
Shares and bonds are capital market instruments, which are issued for a period of
one year or longer. A share represents ownership in a company that issues shares.
This interest (part ownership) in a company is called equity. A bond represents debt
because the issuer of the bond (the party that needs funding) will pay a
predetermined interest rate as a return on investment to the bondholder (the party
that provides the funding).
The correct answer is:
Shares can only be traded at a physical location or building, such as the
Johannesburg Stock Exchange (JSE).
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13682638&cmid=622795 2/15
,9/25/23, 4:31 PM Assessment 6: Attempt review
Question 3
Correct
Mark 2.00 out of 2.00
If South Africa has a comparative advantage over Zimbabwe in the production of
blankets, this means that …
Select one:
a. South Africa can produce more blankets than Zimbabwe
b. South Africa can sell more blankets than Zimbabwe
c. South Africa can produce blankets at a lower cost than Zimbabwe with
a given amount of resources
d. South Africa consumes more blankets than Zimbabwe
Your answer is correct.
Comparative advantage is the ability of one country to produce a commodity
(blankets) at a lower cost within a certain period compared with another country
(see section 10.2).
Comparative advantage does not necessarily imply absolute advantage. Absolute
advantage is the ability of one country to produce more of a particular commodity, in
this case blankets, within a certain time than another country.
Comparative advantage has to do with producing goods, not consuming and selling
of goods.
The correct answer is: South Africa can produce blankets at a lower cost than
Zimbabwe with a given amount of resources
Question 4
Correct
Mark 2.00 out of 2.00
A public good is a good that cannot be used by any one individual.
Select one:
a. False
b. True
Your answer is correct. Well done!
One of the characteristics of public goods is that you cannot exclude anyone from
the bene ts of the good. Streetlights are given as an example of a public good
where you cannot exclude persons from bene tting if it is there. This does not
mean that one person cannot use the bene t of the good. An individual can surely
enjoy the advantage of having a streetlight, while everyone else enjoys it as well.
The correct answer is: False
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13682638&cmid=622795 3/15
, 9/25/23, 4:31 PM Assessment 6: Attempt review
Question 5
Correct
Mark 2.00 out of 2.00
A country can gain from trade if it produces goods and services where it has the
greatest relative advantage.
Select one:
True
False
Your answer is correct.
A country can indeed gain from trade if it produces goods and services where it has
the greatest relative or comparative advantage.
The correct answer is 'True'.
Question 6
Correct
Mark 2.00 out of 2.00
The time it takes for policy makers to know about a decrease in GDP is known as the
________ lag.
Select one:
a. impact
b. decision
c. recognition
d. administrative
Your answer is correct.
Policymakers are attentive to the macroeconomic objectives (economic growth,
in ation, unemployment etc). To recognize a change in any of the macroeconomic
objectives, policy makers are faced with the recognition lag. The recognition lag
refers to the length of time it takes policy makers to realise that macroeconomic
conditions have changed su ciently to warrant their attention.
The administrative lag refers to the length of time it takes policy makers to decide
that changes are required, and then implement it.
The impact lag refers to the length of time it takes new measures to in uence the
economy.
The decision lag refers to the period since the need for a policy changes has been
recognized, until the decision has been taken to implement it.
The correct answer is: recognition
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13682638&cmid=622795 4/15
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