Examen
Ecs1501 Assignment 6 Semester 2 2023
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9/28/23, 4:00 PM Assessment 6: Attempt reviewECS1501-23-S2 Assessments Assessment 6
QUIZ
Started on Thursday, 28
September 2023, 3:15
PM
State Finished
Completed on Thursday, 28
September 2023, 4:00
PM
Time taken 44 mins 36 secs
Marks 14.00/15.00
Grade 93.33 out of 100.00
Question 1
Complete
Not graded
I con rm
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 con rm.
I do not con rm.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13775971&cmid=622805 1/14
,9/28/23, 4:00 PM Assessment 6: Attempt review
Question 2
Complete
Mark 1.00 out of 1.00
A 10 percent increase in the price of
spinach results in a 20 percent decrease
in the quantity of spinach demanded.
What is the price elasticity of demand for
spinach?
20
10
0,5
2
This question requires a straightforward
application of the formula for price
elasticity.
Question 3
Complete
Mark 0.00 out of 1.00
If the price elasticity of beef is greater
than the price elasticity of coffee, it
means that households are
more responsive or sensitive to a
change in the demand for beef than
to a change in the demand for
coffee.
more responsive or sensitive to a
change in the demand for coffee
than to a change in the demand for
beef.
more responsive or sensitive to a
change in the price of beef than to a
change in the price of coffee.
more responsive or sensitive to a
change in the price of coffee than to
a change in the price of beef.
If the price elasticity of beef is greater
than the price elasticity of coffee, it
means that households are more
responsive or sensitive to a change in the
price of beef than to a change in the price
of coffee.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13775971&cmid=622805 2/14
,9/28/23, 4:00 PM Assessment 6: Attempt review
Question 4
Complete
Mark 1.00 out of 1.00
What happens to the price elasticity of
the demand for coal when the quantity of
coal demanded is measured in kilograms
instead of tons?
The price elasticity will be less
elastic.
The price elasticity will be more
elastic.
The price elasticity will be neither
more nor less elastic.
The price elasticity will be
unde ned.
Price elasticity measures the
responsiveness of the quantity
demanded of a good (coal) to changes in
the price of the good (coal). The only
difference measuring coal in kilograms
instead of tons is that the actual gures
one uses when doing the calculations
would be larger, but it would make no
difference to the answer.
Question 5
Complete
Mark 1.00 out of 1.00
If the price elasticity of medical care is
0,31 it can be concluded that the demand
for medical care is ________ since the
percentage change in quantity demanded
is ________ the percentage in price.
price elastic; less
price inelastic; greater
price inelastic; less
price elastic; greater
The price elasticity of demand of medical
care (0,31) is smaller than 1 and is
therefore inelastic.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13775971&cmid=622805 3/14
, 9/28/23, 4:00 PM Assessment 6: Attempt review
Question 6
Complete
Mark 1.00 out of 1.00
A possible reason that the demand for
petrol is inelastic is because
households spend a small
proportion of their income on petrol.
there is no close substitute for
petrol.
petrol is a luxury good.
a large proportion of the petrol
South Africa consumes is imported.
In this question, we need to nd a
possible explanation of why the demand
for petrol is inelastic.
We know anyone or even a combination
of the following factors determines the
price elasticity of a product:
From the list, we can conclude the most
likely explanation for the demand for
petrol being inelastic, is the lack of
substitutes for petrol.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13775971&cmid=622805 4/14
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