Ecs1501 assignment 3 Study guides, Study notes & Summaries

Ecs1501 Assignment 3 semester 1 2023

PREVIEW OF QUESTION 1 1. 1 Reference: Prescribed book PG 189 The opposite occurs when the price of a product is set at too low a level. In this situation, buyers will demand a higher quantity than suppliers are willing to or plan to supply. Excess demand or a shortage will thus be created in the market. Reference: Prescribed book PG 189 The opposite occurs when the price of a product is set at too low a level. In this situation, buyers will demand a higher quantity than suppliers are will...

ECS1500 ASSIGNMENT 3 SEMESTER 1 2023 100% TRUSTED workings, explanations and solutions. For assistance call or whatsapp us on +25479 811 9845 . QUESTION 1 Due to an increased advertising effort about the positive effect of activated charcoal in beauty products, consumers in South Africa are eager to buy beauty products that contain this ingredient. Explain how this will affect the market for activated charcoal. You are allowed to use a diagram to explain your answer, but you will only be alloca...

ECS1501 ASSIGNMENT 03 SEMESTER 02 ECS1501 3.1 When a price ceiling is imposed in a market [1] a persistent shortage is created. [2] a persistent surplus is created. [3] sellers of the product are made better off. [4] quantity supplied is greater than the quantity demanded. Explanation: The easiest way to answer this question is to draw a diagram of a market and apply the different options to it. From the diagram one can see that if a price ceiling of R2 500 is imposed, quantity deman...

ECS1501 ASSIGNMENT 6 QUESTIONS AND ANSWERS 2023 Traditional Organizational Functions - CORRECT ANSWER traditional functions within organizations include marketing + sales, supply chain management, accounting & finance, human resources, and more! These functions are HIGHLY INTERDEPENDENT with many functions assisting or affecting another function. This makes the exchange of information (usually through Information systems) within organizations ESSENTIAL! Core Business Process & Organiza...

ECS1501 - Economics IA Assignment 03 Solutions (Distinction guaranteed)

ECS1501 ASSIGNMENT 3 SOLUTIONS SEMESTER 1 2022

ECS1501 ASSIGNMENT 3 SOLUTIONS SEMESTER 1 2022

ECS1501 ASSIGNMENT 3 SOLUTIONS SEMESTER 1 2022

ECS1501 ASSIGNMENT 3 2021/22 2 When government imposes price ceilings and floors in markets [1] shortages and surpluses are eliminated. [2] both buyers and sellers are better off. [3] price no longer serves as a rationing mechanism. [4] efficiency in the market is increased. ------------------------- TO CONTINUE ----------------------- DOWNLOAD NOW FOR BETTER SCORES.