5/8/24, 9:50 PM Assessment 1: Attempt review
UNISA 2024 ECS1501-24-Y Assessments Assessment 1
QUIZ
Started on Wednesday, 8 May 2024, 9:45 PM
State Finished
Completed on Wednesday, 8 May 2024, 9:50 PM
Time taken 5 mins 9 secs
Marks 9.00/10.00
Grade 90.00 out of 100.00
Question 1
Complete
Not graded
I confirm
that this assessment will be my own individual work;
that I will not communicate with anyone else in any way during the completion of this assessment;
that I will not cheat in any way in completing and submitting this assessment.
I confirm.
I do not confirm.
Question 2
Complete
Mark 0.00 out of 1.00
Technical efficiency occurs when production
is on the production possibilities curve or inside it.
is at any attainable point.
is at a point beyond the production possibilities curve.
is on the production possibilities curve.
Technical efficiency is achieved when an economy produces the maximum possible amount of output from a given set of
inputs or resources. In other words, it occurs when an economy is operating on its Production Possibilities Curve (PPC).
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=18955214&cmid=869192 1/6
,5/8/24, 9:50 PM Assessment 1: Attempt review
Question 3
Complete
Mark 1.00 out of 1.00
The production possibilities curve is the boundary between those combinations of goods and services that can be
consumed and those that cannot be produced.
produced and those that cannot be produced.
consumed domestically and those that can be consumed by foreigners.
produced and those that can be consumed.
The Production Possibilities Curve (PPC), also known as the Production Possibilities Frontier (PPF), is the boundary between
the attainable and unattainable production combinations of two goods in an economy. It illustrates the maximum quantity of
one good that can be produced for each possible quantity of the other good, given the economy's existing resources and
technology.
Question 4
Complete
Mark 1.00 out of 1.00
The production possibilities curve is the boundary between
those combinations of goods and services that can be produced and those that can be consumed.
those wants that are limited and those that are unlimited.
those resources that are limited and those that are unlimited.
those combinations of goods and services that can be produced and those that cannot.
The Production Possibilities Curve (PPC), also known as the Production Possibilities Frontier (PPF), is the boundary between
the attainable and unattainable production combinations of two goods in an economy. It illustrates the maximum quantity of
one good that can be produced for each possible quantity of the other good, given the economy's existing resources and
technology.
Question 5
Complete
Mark 1.00 out of 1.00
Technical efficiency means that
producing another unit of the good has no opportunity cost.
the maximum number of goods are being produced.
scarcity is no longer a problem.
as few resources as possible are being used in production.
Technical efficiency is achieved when an economy produces the maximum possible amount of output from a given set of
inputs or resources.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=18955214&cmid=869192 2/6
,5/8/24, 9:50 PM Assessment 1: Attempt review
Question 6
Complete
Mark 1.00 out of 1.00
Scarcity is represented on the production possibilities curve by
technological progress.
the amount of the good on the horisontal axis forgone.
the fact there are attainable and unattainable points.
the fact that there are only two goods in the diagram.
Scarcity is represented on the Production Possibilities Curve (PPC) by the limited availability of resources and the trade-offs
that must be made between producing different goods.
Operating on the PPC or inside it reflects the constraints of scarcity. Points inside the PPC represent the underutilization of
resources due to scarcity, while points on the PPC indicate the efficient allocation of available resources. The points outside
the PPC are unattainable given the current resources and technology, representing goods and services that the economy
cannot produce due to scarcity.
Question 7
Complete
Mark 1.00 out of 1.00
Technical efficiency requires that
only capital resources be used in the production process.
resources be divided equally in the production process.
we are producing at a point on the PPC.
we can produce more of one good without producing less of some other good.
Technical efficiency is achieved when an economy produces the maximum possible amount of output from a given set of
inputs or resources. In other words, it occurs when an economy is operating on its Production Possibilities Curve (PPC). If
society were to move away from the PPC, either inside or outside the curve, it would indicate that resources are not being
used efficiently (inside) or that the current level of resources and technology cannot support that level of production
(outside).
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=18955214&cmid=869192 3/6
, 5/8/24, 9:50 PM Assessment 1: Attempt review
Question 8
Complete
Mark 1.00 out of 1.00
A production possibilities curve does NOT illustrate
the exchange of one good or service for another.
the limits on production imposed by our limited resources and technology.
opportunity cost.
attainable and unattainable points.
While a PPC is a valuable tool for understanding trade-offs, opportunity costs, and resource allocation it does not illustrate
the exchange of one good or service for another.
Question 9
Complete
Mark 1.00 out of 1.00
Generally, opportunity costs increase and the production possibilities curve bows outward. Why?
Unemployment is inevitable.
Labour is scarcer than capital.
Resources are not equally useful in all activities.
Technology is slow to change.
The PPC bows outward due to this increasing opportunity cost. The curve is concave (curved outward) because resources
are not equally efficient in producing both goods, causing the trade-offs to become steeper as more of one good is produced.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=18955214&cmid=869192 4/6
UNISA 2024 ECS1501-24-Y Assessments Assessment 1
QUIZ
Started on Wednesday, 8 May 2024, 9:45 PM
State Finished
Completed on Wednesday, 8 May 2024, 9:50 PM
Time taken 5 mins 9 secs
Marks 9.00/10.00
Grade 90.00 out of 100.00
Question 1
Complete
Not graded
I confirm
that this assessment will be my own individual work;
that I will not communicate with anyone else in any way during the completion of this assessment;
that I will not cheat in any way in completing and submitting this assessment.
I confirm.
I do not confirm.
Question 2
Complete
Mark 0.00 out of 1.00
Technical efficiency occurs when production
is on the production possibilities curve or inside it.
is at any attainable point.
is at a point beyond the production possibilities curve.
is on the production possibilities curve.
Technical efficiency is achieved when an economy produces the maximum possible amount of output from a given set of
inputs or resources. In other words, it occurs when an economy is operating on its Production Possibilities Curve (PPC).
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=18955214&cmid=869192 1/6
,5/8/24, 9:50 PM Assessment 1: Attempt review
Question 3
Complete
Mark 1.00 out of 1.00
The production possibilities curve is the boundary between those combinations of goods and services that can be
consumed and those that cannot be produced.
produced and those that cannot be produced.
consumed domestically and those that can be consumed by foreigners.
produced and those that can be consumed.
The Production Possibilities Curve (PPC), also known as the Production Possibilities Frontier (PPF), is the boundary between
the attainable and unattainable production combinations of two goods in an economy. It illustrates the maximum quantity of
one good that can be produced for each possible quantity of the other good, given the economy's existing resources and
technology.
Question 4
Complete
Mark 1.00 out of 1.00
The production possibilities curve is the boundary between
those combinations of goods and services that can be produced and those that can be consumed.
those wants that are limited and those that are unlimited.
those resources that are limited and those that are unlimited.
those combinations of goods and services that can be produced and those that cannot.
The Production Possibilities Curve (PPC), also known as the Production Possibilities Frontier (PPF), is the boundary between
the attainable and unattainable production combinations of two goods in an economy. It illustrates the maximum quantity of
one good that can be produced for each possible quantity of the other good, given the economy's existing resources and
technology.
Question 5
Complete
Mark 1.00 out of 1.00
Technical efficiency means that
producing another unit of the good has no opportunity cost.
the maximum number of goods are being produced.
scarcity is no longer a problem.
as few resources as possible are being used in production.
Technical efficiency is achieved when an economy produces the maximum possible amount of output from a given set of
inputs or resources.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=18955214&cmid=869192 2/6
,5/8/24, 9:50 PM Assessment 1: Attempt review
Question 6
Complete
Mark 1.00 out of 1.00
Scarcity is represented on the production possibilities curve by
technological progress.
the amount of the good on the horisontal axis forgone.
the fact there are attainable and unattainable points.
the fact that there are only two goods in the diagram.
Scarcity is represented on the Production Possibilities Curve (PPC) by the limited availability of resources and the trade-offs
that must be made between producing different goods.
Operating on the PPC or inside it reflects the constraints of scarcity. Points inside the PPC represent the underutilization of
resources due to scarcity, while points on the PPC indicate the efficient allocation of available resources. The points outside
the PPC are unattainable given the current resources and technology, representing goods and services that the economy
cannot produce due to scarcity.
Question 7
Complete
Mark 1.00 out of 1.00
Technical efficiency requires that
only capital resources be used in the production process.
resources be divided equally in the production process.
we are producing at a point on the PPC.
we can produce more of one good without producing less of some other good.
Technical efficiency is achieved when an economy produces the maximum possible amount of output from a given set of
inputs or resources. In other words, it occurs when an economy is operating on its Production Possibilities Curve (PPC). If
society were to move away from the PPC, either inside or outside the curve, it would indicate that resources are not being
used efficiently (inside) or that the current level of resources and technology cannot support that level of production
(outside).
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=18955214&cmid=869192 3/6
, 5/8/24, 9:50 PM Assessment 1: Attempt review
Question 8
Complete
Mark 1.00 out of 1.00
A production possibilities curve does NOT illustrate
the exchange of one good or service for another.
the limits on production imposed by our limited resources and technology.
opportunity cost.
attainable and unattainable points.
While a PPC is a valuable tool for understanding trade-offs, opportunity costs, and resource allocation it does not illustrate
the exchange of one good or service for another.
Question 9
Complete
Mark 1.00 out of 1.00
Generally, opportunity costs increase and the production possibilities curve bows outward. Why?
Unemployment is inevitable.
Labour is scarcer than capital.
Resources are not equally useful in all activities.
Technology is slow to change.
The PPC bows outward due to this increasing opportunity cost. The curve is concave (curved outward) because resources
are not equally efficient in producing both goods, causing the trade-offs to become steeper as more of one good is produced.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=18955214&cmid=869192 4/6
