Write in your own words to avoid
Plagiarism!!
ECS1501
ASSIGNMENT 04
YEAR: 2026
, Started on Sunday, 26 July 2026, 9:44 AM
State Finished
Completed on Sunday, 26 July 2026, 10:17 AM
Time taken 33 mins 15 secs
Marks 45.00/45.00
Grade 100.00 out of 100.00
Question 1
Complete
Mark 1.00 out of 1.00
Flag question
Question text
Fixing a minimum price for maize above the equilibrium price is an ineffective way of supporting
poorer farmers because inefficient producers are protected and survive financially to continue
farming.
True
False
Question 2
Complete
Mark 1.00 out of 1.00
Flag question
Question text
Which of the following could be a long-term consequence of rent control?
Greater availability of rental properties
Increased housing supply
Decline in new housing development
Higher landlord profits
Question 3
Complete
Mark 1.00 out of 1.00
Flag question
Question text
, Fixing a maximum price below the equilibrium price may lead to queues and black-market activity.
True
False
Question 4
Complete
Mark 1.00 out of 1.00
Flag question
Question text
How might a government deal with the surplus caused by a minimum price?
Buying up the surplus stock
Reducing company taxes
Increasing consumer taxes
Imposing fines on producers
Question 5
Complete
Mark 1.00 out of 1.00
Flag question
Question text
What is the main objective of a government-imposed minimum price in a competitive market?
To eliminate shortages in the market
To encourage more firms to enter the market
To ensure that goods remain affordable for consumers
To support specific industries
Question 6
Complete
Mark 1.00 out of 1.00
Plagiarism!!
ECS1501
ASSIGNMENT 04
YEAR: 2026
, Started on Sunday, 26 July 2026, 9:44 AM
State Finished
Completed on Sunday, 26 July 2026, 10:17 AM
Time taken 33 mins 15 secs
Marks 45.00/45.00
Grade 100.00 out of 100.00
Question 1
Complete
Mark 1.00 out of 1.00
Flag question
Question text
Fixing a minimum price for maize above the equilibrium price is an ineffective way of supporting
poorer farmers because inefficient producers are protected and survive financially to continue
farming.
True
False
Question 2
Complete
Mark 1.00 out of 1.00
Flag question
Question text
Which of the following could be a long-term consequence of rent control?
Greater availability of rental properties
Increased housing supply
Decline in new housing development
Higher landlord profits
Question 3
Complete
Mark 1.00 out of 1.00
Flag question
Question text
, Fixing a maximum price below the equilibrium price may lead to queues and black-market activity.
True
False
Question 4
Complete
Mark 1.00 out of 1.00
Flag question
Question text
How might a government deal with the surplus caused by a minimum price?
Buying up the surplus stock
Reducing company taxes
Increasing consumer taxes
Imposing fines on producers
Question 5
Complete
Mark 1.00 out of 1.00
Flag question
Question text
What is the main objective of a government-imposed minimum price in a competitive market?
To eliminate shortages in the market
To encourage more firms to enter the market
To ensure that goods remain affordable for consumers
To support specific industries
Question 6
Complete
Mark 1.00 out of 1.00
