ECS1601
Assignment 8
(COMPLETE
ANSWERS)
2024 - DUE 12
November
2024
[Type the document subtitle]
, xam (elaborations)
ECS1601 Assignment 8 (COMPLETE ANSWERS) 2024 -
DUE 12 November 2024
Course
Economics IB (ECS1601)
Institution
University Of South Africa
Book
Economics for the IB Diploma Revision Guide
ECS1601 Assignment 8 (QUESTIONS & ANSWERS) 2024 - DUE 12
November 2024 ;100 % TRUSTED workings, Expert Solved, Explanations
and Solutions.
Question 1 (5 marks) Maximum word count: 100 words 1.1 Suppose you live
in South Africa and have the option to buy proudly South African products or
international brands. With reference to the circular flow of goods and services
and the circular flow of income and spending between households, firms,
government and the foreign sector, provide an explanation as to why it is
better to purchase the proudly South African products and also explain the
opportunity costs of buying international items instead of those produced
locally. (5 marks) Question 2 (10 marks) Maximum word count: 150 words 2.1
The following question is based on the passage below: Mauritius’ economy
has proven otherwise resilient to global economic shocks, including those
stemming from the war in Ukraine, which has affected revenues from tourism
arrivals. GDP growth rebounded by a relatively modest 3.5% in 2021 and
accelerated to an estimated 8.3% in 2022, supported by a strong recovery in
tourism despite headwinds from the war in Ukraine. GDP growth is projected
to moderate to around 5.0% in 2023 as economic activities gradually return to
normal. With the aid of a diagram, explain how the money market in
Maurituius will be affected by the country’s change in economic growth in
2023. The direction of any changes should be clearly indicated by using
arrows. (4 marks) Page 4 of 7 ECS1601 | Assessment 07 | Year 2024 2.2 •
What effect will a change in the price of copper, as described in Extract 2A,
have on the foreign exchange market of Zambia where the same quantity of
copper is exported regardless of price change? Include a diagram in your
Assignment 8
(COMPLETE
ANSWERS)
2024 - DUE 12
November
2024
[Type the document subtitle]
, xam (elaborations)
ECS1601 Assignment 8 (COMPLETE ANSWERS) 2024 -
DUE 12 November 2024
Course
Economics IB (ECS1601)
Institution
University Of South Africa
Book
Economics for the IB Diploma Revision Guide
ECS1601 Assignment 8 (QUESTIONS & ANSWERS) 2024 - DUE 12
November 2024 ;100 % TRUSTED workings, Expert Solved, Explanations
and Solutions.
Question 1 (5 marks) Maximum word count: 100 words 1.1 Suppose you live
in South Africa and have the option to buy proudly South African products or
international brands. With reference to the circular flow of goods and services
and the circular flow of income and spending between households, firms,
government and the foreign sector, provide an explanation as to why it is
better to purchase the proudly South African products and also explain the
opportunity costs of buying international items instead of those produced
locally. (5 marks) Question 2 (10 marks) Maximum word count: 150 words 2.1
The following question is based on the passage below: Mauritius’ economy
has proven otherwise resilient to global economic shocks, including those
stemming from the war in Ukraine, which has affected revenues from tourism
arrivals. GDP growth rebounded by a relatively modest 3.5% in 2021 and
accelerated to an estimated 8.3% in 2022, supported by a strong recovery in
tourism despite headwinds from the war in Ukraine. GDP growth is projected
to moderate to around 5.0% in 2023 as economic activities gradually return to
normal. With the aid of a diagram, explain how the money market in
Maurituius will be affected by the country’s change in economic growth in
2023. The direction of any changes should be clearly indicated by using
arrows. (4 marks) Page 4 of 7 ECS1601 | Assessment 07 | Year 2024 2.2 •
What effect will a change in the price of copper, as described in Extract 2A,
have on the foreign exchange market of Zambia where the same quantity of
copper is exported regardless of price change? Include a diagram in your
