ECS1501
EXAM PACK
, lOMoARcPSD|39633941
MENU
Dashboard / My courses / ECS1501-25-S1 / Assessments / Assessment 1
Started on Friday, 17 March 2025, 3:27 PM
State Finished
Completed on Saturday, 18 March 2025, 10:45 AM
Time taken 19 hours 17 mins
Marks 15.00/15.00
Grade 100.00 out of 100.00
Question 1
Complete
Not graded
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.
o I do not confirm.
Question 2
Complete
Mark 1.00 out of 1.00
What is a scarce good?
a. One for which the choice of one alternative requires that another be given up.
o b. One that is available in unlimited quantities.
o c. One that is available for free.
o d. One that is not wanted or desired.
A scarce good is one for which the choice of one alternative requires that another be given up.
, Question 1
Complete
Not graded
Flag question
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
Mark 1.00 out of 1.00
Flag question
Question text
If the price of running shoes is above the equilibrium price, there will be an excess supply of running shoes.
Note, that you will lose 50% of the mark for this question if you choose the incorrect option.
If you are not sure about the answer and do not want to guess, choose the “Unsure” option. You will neither
receive marks for the question nor will you lose marks for choosing this option.
True
False
EXAM PACK
, lOMoARcPSD|39633941
MENU
Dashboard / My courses / ECS1501-25-S1 / Assessments / Assessment 1
Started on Friday, 17 March 2025, 3:27 PM
State Finished
Completed on Saturday, 18 March 2025, 10:45 AM
Time taken 19 hours 17 mins
Marks 15.00/15.00
Grade 100.00 out of 100.00
Question 1
Complete
Not graded
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.
o I do not confirm.
Question 2
Complete
Mark 1.00 out of 1.00
What is a scarce good?
a. One for which the choice of one alternative requires that another be given up.
o b. One that is available in unlimited quantities.
o c. One that is available for free.
o d. One that is not wanted or desired.
A scarce good is one for which the choice of one alternative requires that another be given up.
, Question 1
Complete
Not graded
Flag question
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
Mark 1.00 out of 1.00
Flag question
Question text
If the price of running shoes is above the equilibrium price, there will be an excess supply of running shoes.
Note, that you will lose 50% of the mark for this question if you choose the incorrect option.
If you are not sure about the answer and do not want to guess, choose the “Unsure” option. You will neither
receive marks for the question nor will you lose marks for choosing this option.
True
False
