2025 – ECS1501 – ASSESSMENT 2 – Q&A
Assessment 2
Started on Saturday, 14 June 2025,
State Finished
Completed Saturday, 14 June 2025,
on
Time
taken
Marks 50.00/50.00
Grade 100.00 out of 100.00
Feedback Excellent work! You seem to understand the content of Topics 5 to
6.3. Please read the feedback for each question carefully and
ensure you agree with the explanations provided.
Note that
• you are allowed to submit two attempts for this assessment.
If you take two attempts, the average mark of the two will
contribute towards your final credits.
• you must wait 24 hours before you can attempt the
assessment again.
Question 1
I confirm
that this assessment will be my own individual work;
that I will not cheat in any way in completing and submitting this assessment.
- I confirm.
- I do not confirm.
1
, 2025 – ECS1501 – ASSESSMENT 2 – Q&A
Question 2
Production is a stock and income is a flow.
- True
- False
Feedback
The statement is false.
Production is a flow, not a stock, because it refers to the output of goods and
services over time (e.g., annually). Income is also a flow because it is earned over
time.
Question 3
Capital goods are purchased by firms.
- True
- False
Feedback
The statement is true.
Firms purchase capital goods (e.g., machinery, buildings) to produce other goods
and services.
Question 4
The balance on your savings account on a particular day is a stock variable.
- True
- False
Feedback
The statement is true.
The balance on your savings account is a stock because it represents the total
amount of money in your account at a specific time.
Question 5
Households sell in the factor markets and purchase in the goods markets.
2
Assessment 2
Started on Saturday, 14 June 2025,
State Finished
Completed Saturday, 14 June 2025,
on
Time
taken
Marks 50.00/50.00
Grade 100.00 out of 100.00
Feedback Excellent work! You seem to understand the content of Topics 5 to
6.3. Please read the feedback for each question carefully and
ensure you agree with the explanations provided.
Note that
• you are allowed to submit two attempts for this assessment.
If you take two attempts, the average mark of the two will
contribute towards your final credits.
• you must wait 24 hours before you can attempt the
assessment again.
Question 1
I confirm
that this assessment will be my own individual work;
that I will not cheat in any way in completing and submitting this assessment.
- I confirm.
- I do not confirm.
1
, 2025 – ECS1501 – ASSESSMENT 2 – Q&A
Question 2
Production is a stock and income is a flow.
- True
- False
Feedback
The statement is false.
Production is a flow, not a stock, because it refers to the output of goods and
services over time (e.g., annually). Income is also a flow because it is earned over
time.
Question 3
Capital goods are purchased by firms.
- True
- False
Feedback
The statement is true.
Firms purchase capital goods (e.g., machinery, buildings) to produce other goods
and services.
Question 4
The balance on your savings account on a particular day is a stock variable.
- True
- False
Feedback
The statement is true.
The balance on your savings account is a stock because it represents the total
amount of money in your account at a specific time.
Question 5
Households sell in the factor markets and purchase in the goods markets.
2
