Ecs1601 economics ib - Study guides, Class notes & Summaries

ECS1601 Assignment 7 (DETAILED ANSWERS) Semester 2 2024 - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED Answers, guidelines, workings and references ,... Question 1 (5 marks) Maximum word count: 100 words 1.1 Suppose you live in South Africa and have the option to buy proudly South African products or international brands. With reference to the circular flow of goods and services and the circular flow of income and spending between households, firms, government and the...

Economics IB (Macroeconomics I) - ECS1601

ECS1601 ASSIGNMENT 6 QUIZ (COMPLETE QUESTIONS AND ANSWERS) 2024 (672300) - DUE 15 OCTOBER 2024

ECS1601 (Economics IB) LATEST EXAM PACK SOLUTIONS 2023

Economics IB (ECS1601) Tutorial letter 102/2011 (First semester)

Sample Questions and Answers for Economics IB ECS1601 ________________________________________ Question 1: Explain the concept of price elasticity of demand and its significance. Answer: Price elasticity of demand (PED) measures the responsiveness of the quantity demanded of a good to a change in its price. It is calculated as the percentage change in quantity demanded divided by the percentage change in price. • Elastic Demand: When PED > 1, demand is elastic; consumers are highly ...

ECS1601 LATEST EXAM PACK. ECS1601 - Economics IB. The five economic participants in the circular flow of income and spending: a. Households b. Firms c. Government d. Foreign Sector e. Financial Sector. The three criteria for a good tax: a. Neutrality b. Equity c. Administrative Simplicity. Gross domestic expenditure indicates the total value of spending within the borders of the country and it includes imports and excludes exports. The difference between GDE and GDP is therefore the di...

ECS1601 Assignment 3 Semester 1& 2 2021. Economics IB.

ECS1601_EXAM_PACK. ECS1601 - Economics IB. An economic recession occurs in the economies of major trading partners of South Africa. (b) Foreign investors sell South African financial assets. Identify two demand factors and two supply factors of economic growth and explain the possible impact these factors would have on economic growth in South Africa. (6) Demand factors:  Domestic demand: Increase demand for goods and services in the domestic market. This will increase employment and c...

ECS1601_EXAM PACK. ECS1601 - Economics IB. The South African Reserve Bank [1] is responsible for the implementation of fiscal policy. [2] is lender of last resort for those consumers who are unable to secure a loan from commercial banks. [3] is co-responsible for tax collection. [4] is responsible for the formulation of monetary policy. 2.8 The positive balance on your cheque account is [1] an asset for you and a liability for your bank. [2] a liability for you and an asset for your bank...