ECS 1500 ASSIGNMENT 1

ECS 1500 ASSIGNMENT 1 SEMESTER 2:2020 UNIQUE ASSIGNMENT NUMBER: DUE DATE: 28 August 2020 WEIGHT FOR SEMESTER MARK: 40% UNITS COVERED: 1-4 11 Free public health facilities in South Africa are an example of non-scarce services. [1] True [2] False 2 -Answer- False scarcity of commodity is refers to the limitation of resources given the needs and wants of economic agents that are unlimited. Scarcity of commodities is not defined by who provides it (being provided by the government or private sector) 1.12 When the government decides to increase the budget for higher learning by decreasing the budget for the provision of roads and transport, the government is facing the "how to produce" trade-off. [1] True [2] False 2-Answer-there are three economic questions (what, how, to whom to produce to) therefore when government is deliberating in terms of which commodity is going to be produce (it is a what to produce economic question not the ‘’how to produce) 1.13 If we say that two variab