ECS1500 Assignment 1 Semester 1 Question and answers

ECS1500
Assignment 1
Semester 1
Question and
answers

, Assignment 01 (first semester)

ASSIGNMENT 01 (FIRST SEMESTER)

UNIQUE NUMBER 287050

CLOSING DATE 8 March 2021
LEARNING UNITS 1 to 4
WEIGHT FOR SEMESTER MARK 40%
NUMBER OF QUESTIONS 30

The last ten questions of this assignment are about you and not about the study material. We want
to know a little bit more about you to make sure that our study material is on the correct level and
we want to find out more about the level of service provided by Unisa. These questions do not have
correct or incorrect answers and will not be marked. Their purpose is to collect information about
our students.

Please answer this assignment on the prescribed answer sheet on myUnisa or on hard copy.
Feedback on Questions 1.10 to 1.20 will be available on myUnisa after the final closing date for the
assignment.
For Questions 1.1 to 1.5, you need to indicate whether the statement is true or false. If the statement
is true, choose [1] and if the statement is false, choose [2].
1.1 Prices bring about involuntary responses from buyers and sellers so that market equilibrium
can be achieved.


[1] True
[2] False


Questions 1.2 and 1.3 are based on the diagram below:




Source: Statistics South Africa