Ecs1601 all in one Study guides, Class notes & Summaries
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ECS1601. ASSESSMENT 1 SEMESTER 2 2023
- Exam (elaborations) • 28 pages • 2023
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ECS1601-23-S2 
Online assessments 
Assessment 1 
 
QUIZ 
Assessment 1 
Started on	Saturday, 19 August 2023, 2:43 PM 
State	Finished 
Completed on	Saturday, 19 August 2023, 3:14 PM 
Time taken	30 mins 14 secs 
Marks	28.00/40.00 
Grade	70.00 out of 100.00 
Question 1 
Complete 
Mark 2.00 out of 2.00 
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Question text 
The circular flow model reveals that a decrease in South African imports will … . 
 
a. 
decrease South African imports 
 
b. 
increase ...
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ECS1601 Assignment 5 (PRACTICE) Semester 1 2023
- Exam (elaborations) • 10 pages • 2023 Popular
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ECS1601 Assignment 5 (PRACTICE) Semester 1 2023 100% TRUSTED workings, explanations and solutions. For assistance call or whatsapp us on +25477 954 0132 . 
[Questions] 
Question 1 (5 marks) Maximum word count: 100 words 
Suppose that you are at a retail store with your family. You come across two T-shirts, one made in 
South Africa and another made in the USA. With reference to the circular flow of income, 
withdrawals and injection, provide an explanation as to why it is better to purchase ...
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ECS1601 Assignment 6 (ANSWERS) Semester 1 2023 (749679) - Due 6 June 2023
- Exam (elaborations) • 162 pages • 2022
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ECS1601 Assignment 6 (ANSWERS) Semester 1 2023 () - Due 6 June 2023 100% TRUSTED workings, explanations and solutions. Whatsapp 067 171 1739 for assistance. ................................................ Households are confronted with………, but with ………resources with which to satisfy those wants. 
a. 
unlimited wants; limited 
b. 
limited wants; limited 
c. 
unlimited wants; unlimited 
d. 
limited wants; unlimited 
Households are confronted with unlimited wants, but with limited...
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ECS1601 Study Unit Summaries -2022.
- Summary • 124 pages • 2022
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ECS1601 Study Unit Summaries -2022. 
1 
ECS1601 
LEARNING UNITS 1 
PRODUCTION, INCOME AND SPENDING IN A MIXED ECONOMY 
- REVISION 
1.1 Make sure you remember the following from ECS1501: 
 What economics is all about (refer to section 1.1 of your textbook) 
Economics is the science of household management, where the household may vary in size from an 
individual living on his own to the economy of the country or the whole world. 
The basic essence of economics – there are unlimited wants, wh...
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ECS1601 EXAM PACK 2023
- Exam (elaborations) • 228 pages • 2023
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ECS1601Test bank with answers 
Economics, past exam papers 
Exam-Pack-Index From 
2017-2022, assignment 1, 
assignment 2, .. ..complete 
solutions 
1 
ECS1601 TEST BANK 
Question 1 
In the goods market of the circular flow model, …. 
1) firms buy factors of production from consumers 
2) firms buy finished products from households 
3) consumers buy factors of production from firms 
4) firms sell factors of production to the government 
5) consumers buy finished products from firms Th...
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ECS1601 Exam Preparation For 2022 – Past Papers with verified Answers.
- Exam (elaborations) • 77 pages • 2022
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ECS1601 Exam Preparation For 2022 – Past Papers with verified Answers. 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 
- ANS-both a and b are correct 
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 th...
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ECS1601 Assessment 7 Attempt Review 2023
- Exam (elaborations) • 19 pages • 2023
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ECS1601 Assessment 7 Attempt review 
Economics IB (University of South Africa) 
lOMoARcPSD| 
Started on Wednesday, 8 June 2022, 6:11 PM 
State Finished 
Completed on Wednesday, 8 June 2022, 7:57 PM 
Time taken 1 hour 46 mins 
Marks 17.00/30.00 
Grade 56.67 out of 100.00 
Question 1 
Incorrect 
Mark 0.00 out of 1.00 
Question 2 
Correct 
Mark 1.00 out of 1.00 
What type of unemployment would occur when there is general downturn in economic activity? 
Select one: 
a. seasonal unemployment 
b. ...
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ECS1601 ASSIGNMENT 5 SEMESTER 1 2023
- Exam (elaborations) • 10 pages • 2023
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ECS1601 Assignment 5 Semester 1 2023 100% TRUSTED workings, explanations and solutions. For assistance call or whatsapp us on +25477 954 0132 . 
[Questions] 
Question 1 (5 marks) Maximum word count: 100 words 
Suppose that you are at a retail store with your family. You come across two T-shirts, one made in 
South Africa and another made in the USA. With reference to the circular flow of income, 
withdrawals and injection, provide an explanation as to why it is better to purchase the South A...
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ECS1601 TEST BANK Macroeconomics (University of South Africa)
- Exam (elaborations) • 229 pages • 2023
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ECS1601 TEST BANK Macroeconomics (University of South Africa) 
ECS1601 TEST BANK 
 
Question 1 
 
In the goods market of the circular flow model, …. 
 
1)	firms buy factors of production from consumers 
2)	firms buy finished products from households 
3)	consumers buy factors of production from firms 
4)	firms sell factors of production to the government 
5)	consumers buy finished products from firms The correct alternative is [5]. Explanation 
In the goods market of the circular flow model, ...
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ECS1601 - All-in-one
- Exam (elaborations) • 277 pages • 2021
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ECS1601 Summary, Breakdown of the Study Units & Revision (Q & A) S - The study-notes marketplace Downloaded by: sibsdlam | Distribution of this document is illegal S - The study-notes marketplace 1 ECS1601 Summary Downloaded by: sibsdlam | Distribution of this document is illegal S - The...
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