ECS1601
Assignment 7
(COMPLETE
ANSWERS)
2024 - DUE 29
October 2024
[Type the document subtitle]
[Pick the date]
[Type the company name]
, Exam (elaborations)
ECS1601 Assignment 7 (COMPLETE ANSWERS) 2024 -
DUE 29 October 2024
Course
Economics IB (ECS1601)
Institution
University Of South Africa (Unisa)
Book
Economics for South African Students
ECS1601 Assignment 7 (COMPLETE ANSWERS) 2024 - DUE 29 October
2024; 100% TRUSTED Complete, trusted solutions and explanations.Ensure
your success with us...
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 foreign sector, provide an explanation as to why it is
better to purchase the proudly South African products and also explain the
opportunity costs of buying international items instead of those produced
locally. (5 marks) Question 2 (10 marks) Maximum word count: 150 words 2.1
The following question is based on the passage below: NEWS Extract 2A
After 2.0% economic growth for 2022 as a whole, South Africa's economy is
now 0.3% bigger than it was in 2019 before the COVID-19 pandemic, Stats
SA said, adding that the expansion was smaller than a 3.5% rise in the
country's population over the same period. Gross domestic product grew 0.9%
year on year in the fourth quarter, worse than forecasts for a 2.2% expansion.
Source: Reuters (2023) < With the aid of a diagram, explain how the money
market in South Africa will be affected by the abovementioned changes in
economic activity. The direction of any changes should be clearly indicated by
using arrows. (4 marks) Page 4 of 7 ECS1601 | Assessment 07 | Year 2024
2.2 • What effect will a change in economic growth prospects of China, as
described in Extract 2B, have on the foreign exchange market of developing
Assignment 7
(COMPLETE
ANSWERS)
2024 - DUE 29
October 2024
[Type the document subtitle]
[Pick the date]
[Type the company name]
, Exam (elaborations)
ECS1601 Assignment 7 (COMPLETE ANSWERS) 2024 -
DUE 29 October 2024
Course
Economics IB (ECS1601)
Institution
University Of South Africa (Unisa)
Book
Economics for South African Students
ECS1601 Assignment 7 (COMPLETE ANSWERS) 2024 - DUE 29 October
2024; 100% TRUSTED Complete, trusted solutions and explanations.Ensure
your success with us...
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 foreign sector, provide an explanation as to why it is
better to purchase the proudly South African products and also explain the
opportunity costs of buying international items instead of those produced
locally. (5 marks) Question 2 (10 marks) Maximum word count: 150 words 2.1
The following question is based on the passage below: NEWS Extract 2A
After 2.0% economic growth for 2022 as a whole, South Africa's economy is
now 0.3% bigger than it was in 2019 before the COVID-19 pandemic, Stats
SA said, adding that the expansion was smaller than a 3.5% rise in the
country's population over the same period. Gross domestic product grew 0.9%
year on year in the fourth quarter, worse than forecasts for a 2.2% expansion.
Source: Reuters (2023) < With the aid of a diagram, explain how the money
market in South Africa will be affected by the abovementioned changes in
economic activity. The direction of any changes should be clearly indicated by
using arrows. (4 marks) Page 4 of 7 ECS1601 | Assessment 07 | Year 2024
2.2 • What effect will a change in economic growth prospects of China, as
described in Extract 2B, have on the foreign exchange market of developing
