THE BMZ ACADEMY
THE BMZ ACADEMY
053 8213
BMZ ACADEMY 061 262 1185/068 053 8213Page 1 of 13
,6/14/26, 5:16 PM Assessment 2: Attempt review
ECS1501-26-Y-A Assessments Assessment 2
QUIZ
Started on Sunday, 14 June 2026, 4:36 PM
State Finished
Completed on Sunday, 14 June 2026, 5:15 PM
Time taken 38 mins 34 secs
Marks 49.00/50.00
Grade 98.00 out of 100.00
Question 1
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 goods market will collapse because firms spend too much on wages.
The factor market will experience higher labour demand, while the goods market may see an increased supply of goods.
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.
Question 2
Complete
Mark 1.00 out of 1.00
Which of the following correctly describes the flow of income in the circular flow model?
Firms provide goods and services to households, and households produce goods for firms.
Households buy goods from firms, and firms use that money to pay taxes to the government.
Households provide labour and receive wages, which they use to purchase goods and services from firms.
Firms pay wages to households, but households do not contribute any resources to firms.
Question 3
Complete
Mark 1.00 out of 1.00
There are two sets of markets in the economy, goods markets (e.g. the market for tomatoes) and factor markets (e.g. the labour
market).
True
False
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=33864305&cmid=1300224&showall=1 1/14
,6/14/26, 5:16 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
Capital is a stock variable.
True
False
Question 6
Complete
Mark 1.00 out of 1.00
A company has R50 million in machinery and equipment, producing R10 million worth of goods each month. How would you classify
these figures?
The R50 million is a stock, and the R10 million is a flow.
Both are flows because they relate to business operations.
Both are stocks because they represent company resources.
The R50 million is a flow, and the R10 million is a stock.
Question 7
Complete
Mark 1.00 out of 1.00
If households decide to save more and reduce their spending on goods and services, what will be the immediate impact on the circular
flow of income?
The circular flow remains unchanged since savings do not affect businesses.
Firms will increase production to attract more customers.
Firms will experience lower sales, leading to potential job losses.
Household incomes will rise due to higher savings.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=33864305&cmid=1300224&showall=1 2/14
, 6/14/26, 5:16 PM Assessment 2: Attempt review
Question 8
Complete
Mark 1.00 out of 1.00
In a simple economy, households receive wages from firms and then use these wages to buy goods and services. What would happen if
households save a more significant portion of their income?
The real flow of goods and services will decrease, and nominal flows may decrease if firms reduce production.
The real flow of goods and services will decrease, but nominal flows will remain unaffected.
The real flow of goods and services will remain constant, but nominal flows will decrease.
The real and nominal flows of goods and services will increase as households spend more.
Question 9
Complete
Mark 1.00 out of 1.00
Households are responsible for the spending on consumer goods.
True
False
Question 10
Complete
Mark 1.00 out of 1.00
Which of the following is an example of a stock variable?
The total amount of money in a company's bank account at a given time.
The number of goods produced by a factory in a week.
The income earned by a worker each month.
The government's annual tax revenue.
Question 11
Complete
Mark 1.00 out of 1.00
The number of foreign visitors to the country during a particular year is a stock variable.
True
False
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=33864305&cmid=1300224&showall=1 3/14
THE BMZ ACADEMY
053 8213
BMZ ACADEMY 061 262 1185/068 053 8213Page 1 of 13
,6/14/26, 5:16 PM Assessment 2: Attempt review
ECS1501-26-Y-A Assessments Assessment 2
QUIZ
Started on Sunday, 14 June 2026, 4:36 PM
State Finished
Completed on Sunday, 14 June 2026, 5:15 PM
Time taken 38 mins 34 secs
Marks 49.00/50.00
Grade 98.00 out of 100.00
Question 1
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 goods market will collapse because firms spend too much on wages.
The factor market will experience higher labour demand, while the goods market may see an increased supply of goods.
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.
Question 2
Complete
Mark 1.00 out of 1.00
Which of the following correctly describes the flow of income in the circular flow model?
Firms provide goods and services to households, and households produce goods for firms.
Households buy goods from firms, and firms use that money to pay taxes to the government.
Households provide labour and receive wages, which they use to purchase goods and services from firms.
Firms pay wages to households, but households do not contribute any resources to firms.
Question 3
Complete
Mark 1.00 out of 1.00
There are two sets of markets in the economy, goods markets (e.g. the market for tomatoes) and factor markets (e.g. the labour
market).
True
False
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=33864305&cmid=1300224&showall=1 1/14
,6/14/26, 5:16 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
Capital is a stock variable.
True
False
Question 6
Complete
Mark 1.00 out of 1.00
A company has R50 million in machinery and equipment, producing R10 million worth of goods each month. How would you classify
these figures?
The R50 million is a stock, and the R10 million is a flow.
Both are flows because they relate to business operations.
Both are stocks because they represent company resources.
The R50 million is a flow, and the R10 million is a stock.
Question 7
Complete
Mark 1.00 out of 1.00
If households decide to save more and reduce their spending on goods and services, what will be the immediate impact on the circular
flow of income?
The circular flow remains unchanged since savings do not affect businesses.
Firms will increase production to attract more customers.
Firms will experience lower sales, leading to potential job losses.
Household incomes will rise due to higher savings.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=33864305&cmid=1300224&showall=1 2/14
, 6/14/26, 5:16 PM Assessment 2: Attempt review
Question 8
Complete
Mark 1.00 out of 1.00
In a simple economy, households receive wages from firms and then use these wages to buy goods and services. What would happen if
households save a more significant portion of their income?
The real flow of goods and services will decrease, and nominal flows may decrease if firms reduce production.
The real flow of goods and services will decrease, but nominal flows will remain unaffected.
The real flow of goods and services will remain constant, but nominal flows will decrease.
The real and nominal flows of goods and services will increase as households spend more.
Question 9
Complete
Mark 1.00 out of 1.00
Households are responsible for the spending on consumer goods.
True
False
Question 10
Complete
Mark 1.00 out of 1.00
Which of the following is an example of a stock variable?
The total amount of money in a company's bank account at a given time.
The number of goods produced by a factory in a week.
The income earned by a worker each month.
The government's annual tax revenue.
Question 11
Complete
Mark 1.00 out of 1.00
The number of foreign visitors to the country during a particular year is a stock variable.
True
False
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=33864305&cmid=1300224&showall=1 3/14
