EXCELCENTRE LEARNING INSTITUTE 061 043 9805
PU E
SHI
NG Y L E NC
OU TO THE GATE OF EXC EL
Education is the most powerful weapon which you can use to change the world
,EXCELCENTRE LEARNING INSTITUTE 061 043 9805
WARNING: PLEASE NOTE THAT PLAGIARISM IS A SERIOUS ACADEMIC
OFFENSE, therefore students must use this document ONLY as a guideline. Hence
students have regenerated their own (personalized) solutions paying particular
attention to module contents as prescribed by module facilitators, lecturers and
supervisors. This document’s purpose is to compact all sources of information that
might be relevant to students’ assignments, hence additional knowledge on the
provided information is not restricted by the authors. However, submitting this
document as one’s final work is considered unethical, and students should be
penalized. If this document is plagiarized by the users and fails, EXCELCENTRE
should not be rendered accountable since the contents in this document only give
learners a kick-start on what is expected of them from their areas of specialty.
CAUTION: STUDENTS ARE NOT MANDATED TO USE EVERY DETAIL IN THIS
DOCUMENT IN WRITING THEIR ASSIGNMENT
Education is the most powerful weapon which you can use to change the world
,6/14/26, 8:29 PM Assessment 2: Attempt review
ECS1501-26-Y-A Assessments Assessment 2
QUIZ
Started on Sunday, 14 June 2026, 6:09 PM
State Finished
Completed on Sunday, 14 June 2026, 8:25 PM
Time taken 2 hours 15 mins
Marks 49.00/50.00
Grade 98.00 out of 100.00
Question 1
Complete
Mark 1.00 out of 1.00
Firms purchase in the factor markets and sell in the goods markets.
True
False
Question 2
Complete
Mark 1.00 out of 1.00
A company hires 50 new workers to increase production. How will this decision impact the goods market and the factor market?
The factor market will be unaffected, but the goods market will see an increase in product availability.
The goods market will shrink because wages increase, reducing consumer spending.
The factor market will experience higher labour demand, while the goods market may see an increased supply of goods.
The goods market will collapse because firms spend too much on wages.
Question 3
Complete
Mark 1.00 out of 1.00
Which of the following is an example of an exchange in the factor market?
A worker getting hired by a company and receiving a salary.
A restaurant serving meals to customers.
A consumer buying groceries from a supermarket.
A family purchasing a new car.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=33865124&cmid=1300224&showall=1 1/12
, 6/14/26, 8:29 PM Assessment 2: Attempt review
Question 4
Complete
Mark 1.00 out of 1.00
Firms are mainly involved in consumption while households are mainly involved in production.
True
False
Question 5
Complete
Mark 1.00 out of 1.00
In a simple economy, what is the key difference between real and nominal (money) flows?
Real flows occur only in the goods market, while nominal flows occur in the factor market.
Real flows represent the exchange of goods and services, while nominal flows represent the exchange of money for those goods
and services.
no difference exists between real and nominal flows in a simple economy.
Real flows refer to the movement of money, while nominal flows refer to goods and services.
Question 6
Complete
Mark 1.00 out of 1.00
A company records the following financial data:
Cash on hand: R5 million
Annual revenue: R20 million
Annual expenses: R15 million
Machinery and equipment: R10 million
Which of the following statements best explains the classification of these figures?
Revenue and expenses are stocks, while cash and machinery are flows.
All the values listed are flow variables.
All the values listed are stock variables.
Cash on hand and machinery are stocks, while revenue and expenses are flows.
Question 7
Complete
Mark 1.00 out of 1.00
A significant increase in consumer demand leads to firms hiring more workers to expand production. How would this change impact the
goods market and factor market in the short term?
The goods market will see reduced prices due to increased production, while the factor market will experience a decrease in labour
demand.
The goods and factor markets will remain unchanged because firms only respond to consumer preferences.
The goods market will become oversaturated with products, leading to lower prices, and the factor market will experience a decline
in labour supply.
The goods market will experience higher prices due to increased demand, and the factor market will experience an increase in
labour demand.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=33865124&cmid=1300224&showall=1 2/12
PU E
SHI
NG Y L E NC
OU TO THE GATE OF EXC EL
Education is the most powerful weapon which you can use to change the world
,EXCELCENTRE LEARNING INSTITUTE 061 043 9805
WARNING: PLEASE NOTE THAT PLAGIARISM IS A SERIOUS ACADEMIC
OFFENSE, therefore students must use this document ONLY as a guideline. Hence
students have regenerated their own (personalized) solutions paying particular
attention to module contents as prescribed by module facilitators, lecturers and
supervisors. This document’s purpose is to compact all sources of information that
might be relevant to students’ assignments, hence additional knowledge on the
provided information is not restricted by the authors. However, submitting this
document as one’s final work is considered unethical, and students should be
penalized. If this document is plagiarized by the users and fails, EXCELCENTRE
should not be rendered accountable since the contents in this document only give
learners a kick-start on what is expected of them from their areas of specialty.
CAUTION: STUDENTS ARE NOT MANDATED TO USE EVERY DETAIL IN THIS
DOCUMENT IN WRITING THEIR ASSIGNMENT
Education is the most powerful weapon which you can use to change the world
,6/14/26, 8:29 PM Assessment 2: Attempt review
ECS1501-26-Y-A Assessments Assessment 2
QUIZ
Started on Sunday, 14 June 2026, 6:09 PM
State Finished
Completed on Sunday, 14 June 2026, 8:25 PM
Time taken 2 hours 15 mins
Marks 49.00/50.00
Grade 98.00 out of 100.00
Question 1
Complete
Mark 1.00 out of 1.00
Firms purchase in the factor markets and sell in the goods markets.
True
False
Question 2
Complete
Mark 1.00 out of 1.00
A company hires 50 new workers to increase production. How will this decision impact the goods market and the factor market?
The factor market will be unaffected, but the goods market will see an increase in product availability.
The goods market will shrink because wages increase, reducing consumer spending.
The factor market will experience higher labour demand, while the goods market may see an increased supply of goods.
The goods market will collapse because firms spend too much on wages.
Question 3
Complete
Mark 1.00 out of 1.00
Which of the following is an example of an exchange in the factor market?
A worker getting hired by a company and receiving a salary.
A restaurant serving meals to customers.
A consumer buying groceries from a supermarket.
A family purchasing a new car.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=33865124&cmid=1300224&showall=1 1/12
, 6/14/26, 8:29 PM Assessment 2: Attempt review
Question 4
Complete
Mark 1.00 out of 1.00
Firms are mainly involved in consumption while households are mainly involved in production.
True
False
Question 5
Complete
Mark 1.00 out of 1.00
In a simple economy, what is the key difference between real and nominal (money) flows?
Real flows occur only in the goods market, while nominal flows occur in the factor market.
Real flows represent the exchange of goods and services, while nominal flows represent the exchange of money for those goods
and services.
no difference exists between real and nominal flows in a simple economy.
Real flows refer to the movement of money, while nominal flows refer to goods and services.
Question 6
Complete
Mark 1.00 out of 1.00
A company records the following financial data:
Cash on hand: R5 million
Annual revenue: R20 million
Annual expenses: R15 million
Machinery and equipment: R10 million
Which of the following statements best explains the classification of these figures?
Revenue and expenses are stocks, while cash and machinery are flows.
All the values listed are flow variables.
All the values listed are stock variables.
Cash on hand and machinery are stocks, while revenue and expenses are flows.
Question 7
Complete
Mark 1.00 out of 1.00
A significant increase in consumer demand leads to firms hiring more workers to expand production. How would this change impact the
goods market and factor market in the short term?
The goods market will see reduced prices due to increased production, while the factor market will experience a decrease in labour
demand.
The goods and factor markets will remain unchanged because firms only respond to consumer preferences.
The goods market will become oversaturated with products, leading to lower prices, and the factor market will experience a decline
in labour supply.
The goods market will experience higher prices due to increased demand, and the factor market will experience an increase in
labour demand.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=33865124&cmid=1300224&showall=1 2/12
