lOMoARcPSD|11700591
Ecs1501 gd002 2020-2022
Economics (University of South Africa)
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ECONOMICS 1A
Study guide 2 for ECS1501
COMPILERS:
FHB Serfontein
WJ le Roux
DEPARTMENT OF ECONOMICS
UNIVERSITY OF SOUTH AFRICA
Downloaded by Answerdone ()
, lOMoARcPSD|11700591
ii
Parts of some of the units are an adaption based on the following works:
Principles of Economics (https://open.lib.umn.edu/principleseconomics/ ) which is adapted from a
work produced and distributed under a Creative Commons license (CC BY-NC-SA) in 2011 by a
publisher who has requested that they and the original author not receive attribution. This work is made
available under the terms of a Creative Commons Attribution-NonCommercial-ShareAlike license.
Principles of Economics (https://saylordotorg.github.io/text_principles-of-economics-v2.0/) by the
Saylaor Academy (2012) which is text adapted by Saylor Academy under a Creative Commons
Attribution-NonCommercial-ShareAlike 3.0 License without attribution as requested by the work's
original creator or licensor.
© 2019 University of South Africa
All rights reserved
Printed and distributed by
University of South Africa
Muckleneuk, Pretoria
Compiled by the Department of Economics
ECS1501/2/2020-2022
Downloaded by Answerdone ()
, lOMoARcPSD|11700591
iii ECS1501/002
Contents
Page
Introduction ............................................................................................................................................... iv
9. Government intervention .................................................................................................................. 1
10. Price elasticity ................................................................................................................................ 26
11. Other elasticities ............................................................................................................................. 81
12. Theory of demand: Marginal utility analysis ............................................................................... 101
13. Theory of supply: Cost of production .......................................................................................... 124
14. Perfect and imperfect competition ............................................................................................... 168
15. Labour market .............................................................................................................................. 213
Downloaded by Answerdone ()
Ecs1501 gd002 2020-2022
Economics (University of South Africa)
StuDocu is not sponsored or endorsed by any college or university
Downloaded by Answerdone ()
, lOMoARcPSD|11700591
ECONOMICS 1A
Study guide 2 for ECS1501
COMPILERS:
FHB Serfontein
WJ le Roux
DEPARTMENT OF ECONOMICS
UNIVERSITY OF SOUTH AFRICA
Downloaded by Answerdone ()
, lOMoARcPSD|11700591
ii
Parts of some of the units are an adaption based on the following works:
Principles of Economics (https://open.lib.umn.edu/principleseconomics/ ) which is adapted from a
work produced and distributed under a Creative Commons license (CC BY-NC-SA) in 2011 by a
publisher who has requested that they and the original author not receive attribution. This work is made
available under the terms of a Creative Commons Attribution-NonCommercial-ShareAlike license.
Principles of Economics (https://saylordotorg.github.io/text_principles-of-economics-v2.0/) by the
Saylaor Academy (2012) which is text adapted by Saylor Academy under a Creative Commons
Attribution-NonCommercial-ShareAlike 3.0 License without attribution as requested by the work's
original creator or licensor.
© 2019 University of South Africa
All rights reserved
Printed and distributed by
University of South Africa
Muckleneuk, Pretoria
Compiled by the Department of Economics
ECS1501/2/2020-2022
Downloaded by Answerdone ()
, lOMoARcPSD|11700591
iii ECS1501/002
Contents
Page
Introduction ............................................................................................................................................... iv
9. Government intervention .................................................................................................................. 1
10. Price elasticity ................................................................................................................................ 26
11. Other elasticities ............................................................................................................................. 81
12. Theory of demand: Marginal utility analysis ............................................................................... 101
13. Theory of supply: Cost of production .......................................................................................... 124
14. Perfect and imperfect competition ............................................................................................... 168
15. Labour market .............................................................................................................................. 213
Downloaded by Answerdone ()
