ECS1501 Assignment 3 2025 ( Due june )

1. UNISA
2. 2024
3. ECS1501-24-Y
4. Assessments
5. Assessment 3



QUIZ

Assessment 3
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Started on Tuesday , 21 May 2024, 8:51 PM
State Finished
Completed on Tuesday, 21 May 2024, 8:57 PM
Time taken 15 mins 49 secs
Marks 11.00/12.00
Grade 88.88 out of 100.00
Question 1
Complete
Not graded

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Question text
I confirm
that this assessment will be my own individual work;
that I will not communicate with anyone else in any way during the completion of this
assessment;
that I will not cheat in any way in completing and submitting this assessment.




I confirm.


I do not confirm.

Question 2
Complete
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, You lose your job and as a result, you buy less air time. This shows that you consider air
time to be a


inferior good.


normal good.


luxury good.


complementary good.
Feedback
If the demand decreases as a result of a decrease in income we are dealing with a normal
good.

Question 3
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If a good is "normal," then an increase in income will result in


a decrease in the demand for the good.


no change in the demand for the good.


an increase in the demand for the good.


a lower market price.
Feedback
If a good is "normal," then an increase in income will result in an increase in the demand for
the good. This can be illustrated by a rightward shift of the demand curve.

Question 4
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If a decrease in income increases the demand for a good, then the good is