Started on Sunday, 1 June 2025, 11:11 AM
State Finished
Completed on Sunday, 1 June 2025, 12:03 PM
Time taken 51 mins 25 secs
Marks 49.00/50.00
Grade 98.00 out of 100.00
Question 1
Complete
Not graded
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Question text
I confirm
that this assessment will be my own individual work;
that I will not cheat in any way in completing and submitting this assessment.
I confirm.
I do not confirm.
Question 2
Correct
Mark 1.00 out of 1.00
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Question text
Capital goods are purchased by firms.
True
False
Question 3
Correct
Mark 1.00 out of 1.00
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Question text
There are two sets of markets in the economy, goods markets (e.g. the market for tomatoes) and
factor markets (e.g. the labour market).
,True
False
Question 4
Correct
Mark 1.00 out of 1.00
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Question text
The number of parking bays available at Unisa's main campus is a stock variable.
True
False
Question 5
Correct
Mark 1.00 out of 1.00
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Question text
The monthly expenditure of a household is a flow variable.
True
False
Question 6
Correct
Mark 1.00 out of 1.00
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Question text
Which of the following is an example of an exchange in the factor market?
A worker getting hired by a company and receiving a salary.
A consumer buying groceries from a supermarket.
A restaurant serving meals to customers.
A family purchasing a new car.
Question 7
Correct
Mark 1.00 out of 1.00
, Flag question
Question text
Which of the following represents a nominal (money) flow in a simple economy?
A household saving money in a bank account.
A household spending money on groceries.
A worker supplying labour to a firm.
A firm producing goods and services.
Question 8
Correct
Mark 1.00 out of 1.00
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Question text
A company hires 50 new workers to increase production. How will this decision impact the goods
market and the factor market?
The factor market will be unaffected, but the goods market will see an increase in product
availability.
The goods market will collapse because firms spend too much on wages.
The goods market will shrink because wages increase, reducing consumer spending.
The factor market will experience higher labour demand, while the goods market may see an
increased supply of goods.
Question 9
Correct
Mark 1.00 out of 1.00
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Question text
If households decide to save more and reduce their spending on goods and services, what will be
the immediate impact on the circular flow of income?
The circular flow remains unchanged since savings do not affect businesses.
Firms will experience lower sales, leading to potential job losses.
State Finished
Completed on Sunday, 1 June 2025, 12:03 PM
Time taken 51 mins 25 secs
Marks 49.00/50.00
Grade 98.00 out of 100.00
Question 1
Complete
Not graded
Flag question
Question text
I confirm
that this assessment will be my own individual work;
that I will not cheat in any way in completing and submitting this assessment.
I confirm.
I do not confirm.
Question 2
Correct
Mark 1.00 out of 1.00
Flag question
Question text
Capital goods are purchased by firms.
True
False
Question 3
Correct
Mark 1.00 out of 1.00
Flag question
Question text
There are two sets of markets in the economy, goods markets (e.g. the market for tomatoes) and
factor markets (e.g. the labour market).
,True
False
Question 4
Correct
Mark 1.00 out of 1.00
Flag question
Question text
The number of parking bays available at Unisa's main campus is a stock variable.
True
False
Question 5
Correct
Mark 1.00 out of 1.00
Flag question
Question text
The monthly expenditure of a household is a flow variable.
True
False
Question 6
Correct
Mark 1.00 out of 1.00
Flag question
Question text
Which of the following is an example of an exchange in the factor market?
A worker getting hired by a company and receiving a salary.
A consumer buying groceries from a supermarket.
A restaurant serving meals to customers.
A family purchasing a new car.
Question 7
Correct
Mark 1.00 out of 1.00
, Flag question
Question text
Which of the following represents a nominal (money) flow in a simple economy?
A household saving money in a bank account.
A household spending money on groceries.
A worker supplying labour to a firm.
A firm producing goods and services.
Question 8
Correct
Mark 1.00 out of 1.00
Flag question
Question text
A company hires 50 new workers to increase production. How will this decision impact the goods
market and the factor market?
The factor market will be unaffected, but the goods market will see an increase in product
availability.
The goods market will collapse because firms spend too much on wages.
The goods market will shrink because wages increase, reducing consumer spending.
The factor market will experience higher labour demand, while the goods market may see an
increased supply of goods.
Question 9
Correct
Mark 1.00 out of 1.00
Flag question
Question text
If households decide to save more and reduce their spending on goods and services, what will be
the immediate impact on the circular flow of income?
The circular flow remains unchanged since savings do not affect businesses.
Firms will experience lower sales, leading to potential job losses.
