1
2026 – S1 – ECS3702 – ASSESSMENT 1 – Q&A
QUIZ
Assessment 1
Started on Monday, 23 March 2026,
State Finished
Completed on Monday, 23 March 2026,
Time taken
Marks 50.00/50.00
Grade 100.00 out of 100.00
Question 1
The rand/pula exchange rate is 23. This price decreases to 15. This implies that
a.
the rand has appreciated against the pula and SA goods are relatively more expensive for
Motswana consumers
b.
the rand has appreciated against the pula and SA goods are relatively cheaper for Motswana
consumers
c.
the rand has depreciated against the pula and SA goods are relatively cheaper for Motswana
consumers
d.
the rand has depreciated against the pula and SA goods are relatively cheaper for Motswana
consumers
Feedback
The correct answer is: the rand has appreciated against the pula and SA goods are relatively
more expensive for Motswana consumers
Question 2
Use the figure below to answer the question that follows
You are informed that Assume the following:
(i) There are two countries, Givench and Trinny
(ii) Both countries produce and consume steel and beans
,2
2026 – S1 – ECS3702 – ASSESSMENT 1 – Q&A
(iii) Steel production is capital intensive and beans production is labour intensive
(iv) Givench is a capital abundant country and Trinny is a labour abundant country
With trade, what are the gains experienced by country Trinny?
a.
Trinny gains 40 steel
b.
Trinny gains 60 beans
c.
Trinny gains 20 steel
d.
Trinny gains 60 steel
Feedback
The correct answer is:
Trinny gains 40 steel
Question 3
The following are correct benefits of international trade, except
,3
2026 – S1 – ECS3702 – ASSESSMENT 1 – Q&A
a.
lower domestic prices
b.
decreased variety in consumption
c.
increased consumption preferences
d.
improvement in efficient methods of production
Feedback
The correct answer is: decreased variety in consumption
Question 4
The following are benefits of free trade, except
a.
Increased consumption
b.
Improvement in production efficiency
c.
Increased global output
d.
Over-reliance on global markets
Feedback
The correct answer is:
Over-reliance on global markets
Question 5
Use the figure below to answer the question that follows
You are informed that Assume the following:
(i) There are two countries, Givench and Trinny
(ii) Both countries produce and consume steel and beans
, 4
2026 – S1 – ECS3702 – ASSESSMENT 1 – Q&A
(iii) Steel production is capital intensive and beans production is labour intensive
(iv) Givench is a capital abundant country and Trinny is a labour abundant country
With trade, what are the gains experienced by country Givench?
a.
Givench gains 40 steel
b.
Givench gains 60 beans
c.
Givench gains 40 beans
d.
Givench gains 60 steel
Feedback
The correct answer is:
Givench gains 40 beans
Question 6
A primary factor driving international trade is
2026 – S1 – ECS3702 – ASSESSMENT 1 – Q&A
QUIZ
Assessment 1
Started on Monday, 23 March 2026,
State Finished
Completed on Monday, 23 March 2026,
Time taken
Marks 50.00/50.00
Grade 100.00 out of 100.00
Question 1
The rand/pula exchange rate is 23. This price decreases to 15. This implies that
a.
the rand has appreciated against the pula and SA goods are relatively more expensive for
Motswana consumers
b.
the rand has appreciated against the pula and SA goods are relatively cheaper for Motswana
consumers
c.
the rand has depreciated against the pula and SA goods are relatively cheaper for Motswana
consumers
d.
the rand has depreciated against the pula and SA goods are relatively cheaper for Motswana
consumers
Feedback
The correct answer is: the rand has appreciated against the pula and SA goods are relatively
more expensive for Motswana consumers
Question 2
Use the figure below to answer the question that follows
You are informed that Assume the following:
(i) There are two countries, Givench and Trinny
(ii) Both countries produce and consume steel and beans
,2
2026 – S1 – ECS3702 – ASSESSMENT 1 – Q&A
(iii) Steel production is capital intensive and beans production is labour intensive
(iv) Givench is a capital abundant country and Trinny is a labour abundant country
With trade, what are the gains experienced by country Trinny?
a.
Trinny gains 40 steel
b.
Trinny gains 60 beans
c.
Trinny gains 20 steel
d.
Trinny gains 60 steel
Feedback
The correct answer is:
Trinny gains 40 steel
Question 3
The following are correct benefits of international trade, except
,3
2026 – S1 – ECS3702 – ASSESSMENT 1 – Q&A
a.
lower domestic prices
b.
decreased variety in consumption
c.
increased consumption preferences
d.
improvement in efficient methods of production
Feedback
The correct answer is: decreased variety in consumption
Question 4
The following are benefits of free trade, except
a.
Increased consumption
b.
Improvement in production efficiency
c.
Increased global output
d.
Over-reliance on global markets
Feedback
The correct answer is:
Over-reliance on global markets
Question 5
Use the figure below to answer the question that follows
You are informed that Assume the following:
(i) There are two countries, Givench and Trinny
(ii) Both countries produce and consume steel and beans
, 4
2026 – S1 – ECS3702 – ASSESSMENT 1 – Q&A
(iii) Steel production is capital intensive and beans production is labour intensive
(iv) Givench is a capital abundant country and Trinny is a labour abundant country
With trade, what are the gains experienced by country Givench?
a.
Givench gains 40 steel
b.
Givench gains 60 beans
c.
Givench gains 40 beans
d.
Givench gains 60 steel
Feedback
The correct answer is:
Givench gains 40 beans
Question 6
A primary factor driving international trade is
