3/14/26, 12:36 PM Assessment 2: Attempt review
ECS1500-26-Y Welcome Message Assessment 2
QUIZ
Started on Saturday, 14 March 2026, 12:02 PM
State Finished
Completed on Saturday, 14 March 2026, 12:35 PM
Time taken 33 mins 21 secs
Marks 40.00/40.00
Grade 100.00 out of
100.00
Feedback
Excellent work! You seem to understand the content of Learning Units 3 to 5 quite well. Please read the
feedback provided for each question carefully and make sure you agree with the explanations provided,
especially for the questions you answered incorrectly. Make sure you will not make similar mistakes in
the future.
Note that you are allowed to submit 3 attempts for this assessment and that the marks for the best attempt
will contribute towards your final credits. Revise the content carefully before submitting another attempt.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=30995564&cmid=1297661 1/17
, 3/14/26, 12:36 PM Assessment 2: Attempt review
Question 1
Incorrect
Mark 0.00 out of 2.00
Study the graph below and answer the question:
The graph above shows a decrease in the demand for ice cream sold in wafer cones. Assume that the price of wafer cones now increases.
Compared to the original equilibrium position E0, what will happen in the market?
Select one:
a. There will be a decrease in the equilibrium quantity and the direction of change in price will be uncertain.
b. The equilibrium quantity and price will remain the same.
c. There will be an increase in the equilibrium quantity and the price will remain the same.
d. There will be a decrease in the equilibrium quantity and the price will remain the same.
Your answer is correct.
A decrease in the demand for ice cream and a simultaneous decrease in supply caused by the increase in input prices lead to a decrease in
the equilibrium quantity, but the direction of the change in the market price is uncertain. The direction of the change in the market
price will be determined by the relative sizes of the decrease in demand and the decrease in supply. If supply decreases proportionally to
demand, as illustrated in (a) below, the quantity decreases to Q1 but the price remains at P0.
If supply changes proportionally more than demand, as illustrated in (b) below, the quantity decreases to Q2 but the price now increases to
P2.
However, if supply changes proportionally less than demand, as illustrated in (c) below, the quantity decreases to Q3 but the price now
decreases to P3.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=30995564&cmid=1297661 2/17
ECS1500-26-Y Welcome Message Assessment 2
QUIZ
Started on Saturday, 14 March 2026, 12:02 PM
State Finished
Completed on Saturday, 14 March 2026, 12:35 PM
Time taken 33 mins 21 secs
Marks 40.00/40.00
Grade 100.00 out of
100.00
Feedback
Excellent work! You seem to understand the content of Learning Units 3 to 5 quite well. Please read the
feedback provided for each question carefully and make sure you agree with the explanations provided,
especially for the questions you answered incorrectly. Make sure you will not make similar mistakes in
the future.
Note that you are allowed to submit 3 attempts for this assessment and that the marks for the best attempt
will contribute towards your final credits. Revise the content carefully before submitting another attempt.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=30995564&cmid=1297661 1/17
, 3/14/26, 12:36 PM Assessment 2: Attempt review
Question 1
Incorrect
Mark 0.00 out of 2.00
Study the graph below and answer the question:
The graph above shows a decrease in the demand for ice cream sold in wafer cones. Assume that the price of wafer cones now increases.
Compared to the original equilibrium position E0, what will happen in the market?
Select one:
a. There will be a decrease in the equilibrium quantity and the direction of change in price will be uncertain.
b. The equilibrium quantity and price will remain the same.
c. There will be an increase in the equilibrium quantity and the price will remain the same.
d. There will be a decrease in the equilibrium quantity and the price will remain the same.
Your answer is correct.
A decrease in the demand for ice cream and a simultaneous decrease in supply caused by the increase in input prices lead to a decrease in
the equilibrium quantity, but the direction of the change in the market price is uncertain. The direction of the change in the market
price will be determined by the relative sizes of the decrease in demand and the decrease in supply. If supply decreases proportionally to
demand, as illustrated in (a) below, the quantity decreases to Q1 but the price remains at P0.
If supply changes proportionally more than demand, as illustrated in (b) below, the quantity decreases to Q2 but the price now increases to
P2.
However, if supply changes proportionally less than demand, as illustrated in (c) below, the quantity decreases to Q3 but the price now
decreases to P3.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=30995564&cmid=1297661 2/17
