Summary ECS1500 ASSESSMENT 1 YEAR MODULE 2025

ECS1500 ASSIGNMENT 2 1ST YEAR MODULE
2025



Due: Wednesday, 4 June 2025, 11:00 PM




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, 1. ECS1500-25-Y
2. Welcome Message
3. Assessment 2



Quiz

Assessment 2
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Started on Monday, 24 February 2025, 3:44 PM
State Finished
Completed on Monday, 24 February 2025, 3:56 PM
Time taken 12 mins 37 secs
Marks 34.00/40.00
Grade 85.00 out of 100.00
Feedback Excellent work! You seem to understand the content of Learning Units 3 to 5 well.
provided. Note that you are allowed to submit 3 attempts for this assessment and th

Question 1
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Question text
Mpho's income has increased from R1 200 to R1 560. As a result, Mpho decides to increase her
consumption of lamb meat by 6%. This means that .
[1] Mpho regards lamb as an essential good
[2] the income elasticity is 0,2
[3] Mpho regards lamb as a luxury good
[4] the income elasticity is 5.


Select one:

a.
only 3 and 4 are correct


b.
only 1 and 4 are correct


c.