ECS1601 Assignment 01 Semester 1 2021

ECS1601
Semester 1 2021
assignment 1

ASSIGNMENT UNIQUE NUMBER
01 652443




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, 1.1 The assignments

8.6.1 Assignment 01 (semester 1)


Assignment 01
Unique number 652443
Closing date 09 March 2021
Learning units 1 to 2 of the Study guide and the relevant
Content chapters of the prescribed book
Questions 46 questions
Weight 20% of the semester mark
To submit Through myUnisa or on a mark-reading sheet


1.1 Which of the following is/are correct?
a) Households are confronted with unlimited wants, but with limited resources with
which to satisfy those wants
b) The scarcity of resources necessitate households to make choices


[1] a is incorrect, b is correct
[2] both a and b are incorrect
[3] only a is correct
[4] both a and b are correct


1.2 Which of the following is/are correct regarding the distinction between macroeconomics
and microeconomics?
a) The price of apples at the supermarket is an example of a macroeconomic variable.
b) An increase in the general price level (inflation) in the economy is an example of a
macroeconomic variable.

[1] only b is correct
[2] a and b are both incorrect
[3] only a is correct
[4] both a and b are correct




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