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ecs1500 Assignment 2 semester 2 2023

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Institution University Of South Africa (Unisa)
Course ECS1500 - Economics 1500
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2/24/23, 3:29 PM Assessment 2: Attempt review




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Dashboard / My courses / ECS1500-23-S1 / Welcome Message / Assessment 2

Started on Friday, 24 February 2023, 3:16 PM
State Finished
Completed on Friday, 24 February 2023, 3:28 PM
Time taken 11 mins 20 secs
Marks 34.00/40.00
Grade 85.00 out of 100.00
Feedback Well done! You seem to understand Learning Units 3, 4 and 5 of ECS1500!



Question 1
Incorrect

Mark 0.00 out of 2.00




An increase in the price of any of the factors of production will result in an upward (leftward) shift of the supply curve.



Select one:
True

False 



When the price of a production factor increases, it means that suppliers will only be able and willing to produce the same number of items at
a higher price. Therefore, the supply curve will shift upwards and to the left.

The correct answer is 'True'.




https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=6829024&cmid=622225 1/16

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