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, 1.1 Prices bring about involuntary responses from buyers and sellers so that market
equilibrium can be achieved.
[1] True
[2] False
The prices that are established on these markets that provide the essential
signals or impulses to which the various economic participants react voluntarily
(and in their own interest) to bring about a seemingly organised economic order.
Questions 1.2 and 1.3 are based on the diagram below:
Source: Statistics South Africa
1.2 The curve showing the unemployment rate in South Africa is a linear curve.
[1] True
[2] False
The line in question is non-linear by observation, it shows fluctuations over time.
1.3 There has been a constant decline in the national unemployment rate for South
Africa since 2008.
[1] True
[2] False
Email:
http://theeconomistsoe.com/
, 1.1 Prices bring about involuntary responses from buyers and sellers so that market
equilibrium can be achieved.
[1] True
[2] False
The prices that are established on these markets that provide the essential
signals or impulses to which the various economic participants react voluntarily
(and in their own interest) to bring about a seemingly organised economic order.
Questions 1.2 and 1.3 are based on the diagram below:
Source: Statistics South Africa
1.2 The curve showing the unemployment rate in South Africa is a linear curve.
[1] True
[2] False
The line in question is non-linear by observation, it shows fluctuations over time.
1.3 There has been a constant decline in the national unemployment rate for South
Africa since 2008.
[1] True
[2] False
