ECS1601 ASSESSMENT 7 2024 Suppose you live in South Africa and have the option to buy proudly South African products or international brands. With reference to the circular flow of goods and services and the circular flow of income and spending between h

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, Table of Contents
Question 1 (100 words) .............................................................................................. 3


Circular Flow .............................................................................................................. 3


Benefits of purchasing proudly South African products .............................................. 3


Opportunity Costs of Buying International Items ........................................................ 4


Question 2 (10 marks) ................................................................................................ 5


Question 3 (8 marks) .................................................................................................. 6


Question 4 .................................................................................................................. 7


References ............................................................................................................... 10




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