2025 – ECS1500 – ASSESSMENT 2 – Q&A
QUIZ
Assessment 2
Started on Monday, 28 April 2025,
State Finished
Completed Monday, 28 April 2025,
on
Time taken
Marks 40.00/40.00
Grade 100.00 out of 100.00
Question 1
The question is based on the following figure.
Which one of the following is correct?
[1] A movement from point A to point B is an example of an increase in demand.
[2] A movement from point A to point B is an example of an increase in quantity
demanded.
[3] A movement from point C to point D is an example of an increase in demand.
1
, 2025 – ECS1500 – ASSESSMENT 2 – Q&A
[4] A movement from point C to point D is an example of an increase in quantity
demanded.
Select one:
a.
only 1 and 4 are correct
b.
only 2 and 4 are correct
c.
only 2 and 3 are correct
d.
only 1 and 3 are correct
Feedback
Your answer is correct.
The movement from A to B is due to a shift of the demand curve from D to D'. As
explained in section 3.2.2 a change in demand due to any other reason except price,
is illustrated by a shift of the demand curve, and referred to a change in demand.
Therefore alternative [1] is correct and alternative [2] is incorrect.
However, as explained in the same section, any change in the price of a product will
cause a movement along the demand curve to the new price level. This is referred to
as a change in the quantity demanded. Therefore the movement from point C to
point D is referred to as a change in the quantity demanded. Option [3] is therefore
incorrect and option [4] is correct.
The correct answer is: only 1 and 4 are correct
Question 2
If an increase in the price of dresses leads to a decrease in the demand for scarfs,
then dresses and scarfs are ……..
Select one:
a.
substitutes.
2
QUIZ
Assessment 2
Started on Monday, 28 April 2025,
State Finished
Completed Monday, 28 April 2025,
on
Time taken
Marks 40.00/40.00
Grade 100.00 out of 100.00
Question 1
The question is based on the following figure.
Which one of the following is correct?
[1] A movement from point A to point B is an example of an increase in demand.
[2] A movement from point A to point B is an example of an increase in quantity
demanded.
[3] A movement from point C to point D is an example of an increase in demand.
1
, 2025 – ECS1500 – ASSESSMENT 2 – Q&A
[4] A movement from point C to point D is an example of an increase in quantity
demanded.
Select one:
a.
only 1 and 4 are correct
b.
only 2 and 4 are correct
c.
only 2 and 3 are correct
d.
only 1 and 3 are correct
Feedback
Your answer is correct.
The movement from A to B is due to a shift of the demand curve from D to D'. As
explained in section 3.2.2 a change in demand due to any other reason except price,
is illustrated by a shift of the demand curve, and referred to a change in demand.
Therefore alternative [1] is correct and alternative [2] is incorrect.
However, as explained in the same section, any change in the price of a product will
cause a movement along the demand curve to the new price level. This is referred to
as a change in the quantity demanded. Therefore the movement from point C to
point D is referred to as a change in the quantity demanded. Option [3] is therefore
incorrect and option [4] is correct.
The correct answer is: only 1 and 4 are correct
Question 2
If an increase in the price of dresses leads to a decrease in the demand for scarfs,
then dresses and scarfs are ……..
Select one:
a.
substitutes.
2
