Ecs1500 Assignment 4 semester 2 2023

7/12/22, 8:13 PM Assessment 4: Attempt review




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Dashboard / Courses / UNISA / 2022 / Semester 1 / ECS1500-22-S1 / Welcome Message / Assessment 4

Started on Saturday, 9 April 2022, 11:36 AM
State Finished
Completed on Saturday, 9 April 2022, 12:10 PM
Time taken 33 mins 31 secs
Marks 24.00/60.00
Grade 40.00 out of 100.00


Question 1
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Which ONE of the following will affect the quantity demanded of cars, but not the demand for cars?




Select one:
a. an increased preference for using public transport

b. an increase in the price of petrol 

c. an increase in the general income level in the economy

d. an increase in the price of a car



The correct answer is: an increase in the price of a car




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,7/12/22, 8:13 PM Assessment 4: Attempt review

Question 2

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The question is based on the information in the following table:
Dashboard / Courses / UNISA / 2022 / Semester 1 / ECS1500-22-S1 / Welcome Message / Assessment 4




Which of the following diagrams can illustrate the relationship between consumption and savings?




Select one:
a. Diagrams c and d

b. Diagram b

c. Diagram a

d. Diagrams a and b 

e. Diagram c



The correct answer is: Diagrams c and d




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,7/12/22, 8:13 PM Assessment 4: Attempt review

Question 3
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Suppose that the market for guavas experiences an increase in the price level. This will result in a movement along the demand curve and
Dashboard / Courses / UNISA / 2022 / Semester 1 / ECS1500-22-S1 / Welcome Message / Assessment 4
the quantity demanded will fall.




Select one:
True 

False



The correct answer is 'True'.




Question 4
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The question is based on the following diagram which shows the demand for and supply of tea.




The ceteris paribus condition implies that in the diagram above …



Select one:
a. only price and quantity demanded and quantity supplied can change.

b. the price and quantity of tea cannot change.

c. along one demand curve price and quantity of tea demanded cannot change. 

d. along one demand curve only price and quantity of tea demanded can change.



The correct answer is: along one demand curve only price and quantity of tea demanded can change.




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, 7/12/22, 8:13 PM Assessment 4: Attempt review

Question 5
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Cross elasticity of demand measures how elastic ...
Dashboard / Courses / UNISA / 2022 / Semester 1 / ECS1500-22-S1 / Welcome Message / Assessment 4

Select one:
a. a change in supply of one product is to a change in price of another related product.
b. a change in the demand for one product is to a change in demand for another related product.
c. a change in the demand for one product is to a change in the price of another related product.
d. a change in demand for one product is to a change in the price of that product. 



The correct answer is: a change in the demand for one product is to a change in the price of another related product.




Question 6

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Lerato bought a cellphone from an online store. Payment for the cellphone delivered to Lerato will flow from …




Select one:
a. households to business enterprises via the market for goods and services.

b. households to business enterprises via the market for factors of production.

c. business enterprises to households via the market for factors of production.

d. business enterprises to households via the market for goods and services. 



The correct answer is: households to business enterprises via the market for goods and services.




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