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Exam (elaborations)

ECS1501 ASSIGNMENT 3 SEMESTER 2 - 2022

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ECS1501 ASSIGNMENT 3 SEMESTER 2 - 2022

Institution
University Of South Africa (Unisa)
Course
ECS1501 - Economics IA

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BOOKTOK ACADEMY

, 2022
Question 2
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The concept of opportunity cost
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© suggests that all wants can be fulfilled.

© isrelevant only in market economies. www.thundershare.net

O will become irrelevant if South Africa changes to a command economy.

@ is relevant in all economies.
°
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When a wealthy businessperson is unable to buy tickets to the Soccer World Cup final, he or she
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© economics

© scarcity

© opportunity costs

© the fallacy of composition

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Philip Mohr Economics for South African Students
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  • 9780627033421
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ECS1501 - Economics IA
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