ECS2601 Microeconomics (ECS2601)

ECS2601 Assignment 4 Semester 1 2023

ECS2601 Assignment 4 Semester 1 2023

ECS2601 Assignment 4 Semester 1 2023

ECS2601 Assignment 4 Semester 1 2023

ECS2601 Assignment 4 Semester 1 2023

1. POSITIVE OR NORMATIVE STATEMENTS OR ECONOMICS a) positive statements or economics  a positive statement is an objective statement of fact.  Positive economics describes and explains various economic phenomena.  An example: “an increase in tax rates ultimately results in a decrease in total tax revenue”.  a positive or objective economic observation would be, "Based on past data, big tax cuts would help many people, but government budget constraints make that option unfe...

ECS2601 Assignment 1 Semester 1 2023 100% TRUSTED workings, explanations and solutions. For assistance call or whatsapp us on +25479 811 9845 .

ECS2601 ASSIGNMENT 1 SEMESTER 1 2023 100% TRUSTED workings, explanations and solutions. For assistance call or whatsapp us on +25479 811 9845 .

SUGGESTED SOLUTIONS FOR MAY/JUNE 2015 QUESTION 1 1a. Consider the following baskets of goods: A B C If preferences satisfy all requirements, is A preferred to C or C to A? Explain your answer. Basket A has more food than basket C. Basket C has more clothing than basket A. Therefore, basket A and C cannot be compared without additional information. 1b. An island economy produces only two goods – coconuts and pineapples. There are five people (A, B, C, D and E) living on the island, w...

ECS2601 master_mcq_question_bank