Ecs1500 mock exam paper 1 - Study guides, Class notes & Summaries
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ECS1500 MOCK EXAM 1 QUESTIONS AND ANSWERS 2022/2023 ANSWERS AT THE END OF THE PAPER
- Exam (elaborations) • 19 pages • 2022
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ECS1500 MOCK EXAM 1 
QUESTIONS AND 
ANSWERS 2022/2023 
ANSWERS AT THE END OF THE PAPER 
ECS1500 Mock Paper 1 
2 
Write the answers for each question on the answer sheet provided at the end. 
1 A normal good is one for which the income elasticity is greater than one. 
1 True 
2 False 
2 The demand for a good, perceived by the consumer to be a necessity, will 
tend to be elastic. 
1 True 
2 False 
3 Macroeconomics is concerned with the study of how households and firms 
make decisions and how they...
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ECS1500 MOCK EXAM PAPER 1
- Exam (elaborations) • 20 pages • 2021
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ECS1500 
MOCK EXAM PAPER 1 
Note that the answers to the question are 
provided at the end of the paper. 
To test if you are ready for the examination we 
suggest that you create a simulated 
examination situation. Give yourself two hours 
to do the paper and do not refer back to the 
study material. Use the answers at the end to 
evaluate your performance to decide if you are 
ready for the exam and which sections you still 
need to revise. 
ECS1500 Mock Paper 1 
2 
Write the answers for each ...
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Ecs1500
- Package deal • 4 items • 2022
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Exam (elaborations)
Ecs1500 ASSIGNMENT 02 29 March 2022

2
Exam (elaborations)
ECS1500 ASSIGNMENT 3

3
Exam (elaborations)
ECS1500 MCQs Exam Pack Latest. 2021

4
Exam (elaborations)
ECS1500 MOCK EXAM PAPER 2

5
Exam (elaborations)
ECS1500 MOCK EXAM PAPER 1
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ECS1500 MOCK EXAM 2022/2023 Answers on the last page
- Exam (elaborations) • 28 pages • 2022
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- $3.00
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ECS1500 MOCK EXAM 
2022/2023 
Answers on the last page 
ECS1500 Mock Paper 2 
2 
Write the answers for each question on the answer sheet provided at the end. 
1. Scarcity applies to the poor only. 
1. True 
2. False 
2. A decrease in the supply of apples is illustrated by an upward or a leftward shift of the 
entire supply curve. 
1. True 
2. False 
3. The four factors of production are land, labour, entrepreneurship and capital goods. 
1. True 
2. False 
4. If the supply of, as well as the dema...
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