Ecs 1601 Assignment 1-4 2021

The document ECS 1601 ASSIGNMENT 1-4 2021 contain 4 assignments with answers guaranteeing you an A score in your assesment. ASSESSMENT CHANGES for 2021 ACADEMIC YEAR 3 1.1 Assignment due dates 3 Assignment 01 4 Assignment 02 16 Assignment 03 25 Assignment 04 34 1.4 The examination 49 Content of the assignment Learning units 1 to 2 of the Study guide and the relevant chapters of the prescribed book The Questions There are 46 questions The correct answer is highlighted 1.1 Which of the following is/are correct? a) Households are confronted with unlimited wants, but with limited resources with which to satisfy those wants b) The scarcity of resources necessitate households to make choices [1] a is incorrect, b is correct [2] both a and b are incorrect [3] only a is correct [4] both a and b are correct 1.2 Which of the following is/are correct regarding the distinction between macroeconomics and microeconomics? a) The price of apples at the supermarket is an example of a macroeconomic variable. b) An increase in the general price level (inflation) in the economy is an example of a macroeconomic variable. [1] only b is correct [2] a and b are both incorrect [3] only a is correct [4] both a and b are correct 1.3 A flow variable is defined as a variable that is measured over a period. Which one of the following variables is not an example of a flow variable? [1] National income [2] The balance on Sibahle’s savings account [3] Budget deficit [4] Total production