Assessment 1: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=274
ECS1601-25-Y Welcome Message Assessment 1
QUIZ
Tuesday, 13 May 2025,
2:07 PM
Finished
Tuesday, 13 May 2025,
/.01 1 1
out of 100.00
Correct
Mark 1.00 out of 1.00
Which of the following is correct about the
macroeconomic issue that caused global
increase in the price of oil caused by the
Russia–Ukraine war?
a. external factors in South
Africa that form part of the
macroeconomic issues
b. external factors in Ukraine that
form part of microeconomics
issues
c. internal factors in South Africa
that form part of the domestic
economic issues
d. internal factors in Russia that
form part of international issues
In South Africa the international increase
in the price of oil is known as the external
factor which forms part of the
macroeconomic issues this means South
Africa does not have control of the
external issues.
1 of 17 2025/05/13, 14
,Assessment 1: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=274
Correct
Mark 1.00 out of 1.00
The factor market is where…
a. households provide
resources to �rms.
b. goods and services �ow to
households.
c. �rms provide resources to
households.
d. households provide goods to
business.
The factor market is where the factors of
production such as capital, land,
entrepreneurship and labour are sold.
These factors are sold by households to
�rms. Therefore, the factor market is
where households provide resources to
�rms.
2 of 17 2025/05/13, 14
,Assessment 1: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=274
Incorrect
Mark 0.00 out of 1.00
In the circular �ow of income and
spending, government…
a. injects government spending into
the factor market and collects
taxes from the goods market.
b. withdraws taxes from �rms and
households.
c. provides public goods and
services to the factor market and
receives labour from the goods
market.
d. withdraws government
spending by providing it to
�rms and withdraws taxes
from households.
e. provides public goods and
services to households and
withdraws taxes from the goods
market
In the circular �ow of production, income
and spending, the government does inject
government spending into the factor
market, although taxes are only collected
from households and �rms. Public goods
and services are only provided to
households and �rms while labour is
received from the factor market.
Correct
Mark 1.00 out of 1.00
Households are confronted with………, but
with ………resources with which to satisfy
those wants.
a. unlimited wants; limited
b. limited wants; limited
c. unlimited wants; unlimited
d. limited wants; unlimited
Households are confronted with unlimited
wants, but with limited resources to satisfy
those wants.
3 of 17 2025/05/13, 14
,Assessment 1: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=274
Correct
Mark 1.00 out of 1.00
In the circular �ow of income and
spending, that is, the basic �ow of income
and spending between households and
�rms supplemented by the foreign,
�nancial and government sectors…
a. exports are leakages from the
circular �ow.
b. investment is a leakage from the
circular �ow.
c. savings are injections into the
circular �ow.
d. imports are injections into the
circular �ow.
e. taxes are leakages from the
circular �ow.
An injection is a variable that increases the
circular �ow of income and spending and
a leakage is a variable that decreases the
circular �ow of income and spending.
Exports are not a leakage but an injection,
since South Africans are purchasing
goods outside the country. Investment is
also an injection because when �rms
purchase capital goods, they are investing
and adding into the circular �ow of income
and spending. Saving is a leakage and not
an injection because saving is transferred
to a bank, which means that it goes out of
the circular �ow. Imports are a leakage
because we are spending money on goods
and services outside the country. Taxes
are leakages from the circular �ow
because the government uses taxes to
purchase goods and services.
4 of 17 2025/05/13, 14
ECS1601-25-Y Welcome Message Assessment 1
QUIZ
Tuesday, 13 May 2025,
2:07 PM
Finished
Tuesday, 13 May 2025,
/.01 1 1
out of 100.00
Correct
Mark 1.00 out of 1.00
Which of the following is correct about the
macroeconomic issue that caused global
increase in the price of oil caused by the
Russia–Ukraine war?
a. external factors in South
Africa that form part of the
macroeconomic issues
b. external factors in Ukraine that
form part of microeconomics
issues
c. internal factors in South Africa
that form part of the domestic
economic issues
d. internal factors in Russia that
form part of international issues
In South Africa the international increase
in the price of oil is known as the external
factor which forms part of the
macroeconomic issues this means South
Africa does not have control of the
external issues.
1 of 17 2025/05/13, 14
,Assessment 1: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=274
Correct
Mark 1.00 out of 1.00
The factor market is where…
a. households provide
resources to �rms.
b. goods and services �ow to
households.
c. �rms provide resources to
households.
d. households provide goods to
business.
The factor market is where the factors of
production such as capital, land,
entrepreneurship and labour are sold.
These factors are sold by households to
�rms. Therefore, the factor market is
where households provide resources to
�rms.
2 of 17 2025/05/13, 14
,Assessment 1: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=274
Incorrect
Mark 0.00 out of 1.00
In the circular �ow of income and
spending, government…
a. injects government spending into
the factor market and collects
taxes from the goods market.
b. withdraws taxes from �rms and
households.
c. provides public goods and
services to the factor market and
receives labour from the goods
market.
d. withdraws government
spending by providing it to
�rms and withdraws taxes
from households.
e. provides public goods and
services to households and
withdraws taxes from the goods
market
In the circular �ow of production, income
and spending, the government does inject
government spending into the factor
market, although taxes are only collected
from households and �rms. Public goods
and services are only provided to
households and �rms while labour is
received from the factor market.
Correct
Mark 1.00 out of 1.00
Households are confronted with………, but
with ………resources with which to satisfy
those wants.
a. unlimited wants; limited
b. limited wants; limited
c. unlimited wants; unlimited
d. limited wants; unlimited
Households are confronted with unlimited
wants, but with limited resources to satisfy
those wants.
3 of 17 2025/05/13, 14
,Assessment 1: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=274
Correct
Mark 1.00 out of 1.00
In the circular �ow of income and
spending, that is, the basic �ow of income
and spending between households and
�rms supplemented by the foreign,
�nancial and government sectors…
a. exports are leakages from the
circular �ow.
b. investment is a leakage from the
circular �ow.
c. savings are injections into the
circular �ow.
d. imports are injections into the
circular �ow.
e. taxes are leakages from the
circular �ow.
An injection is a variable that increases the
circular �ow of income and spending and
a leakage is a variable that decreases the
circular �ow of income and spending.
Exports are not a leakage but an injection,
since South Africans are purchasing
goods outside the country. Investment is
also an injection because when �rms
purchase capital goods, they are investing
and adding into the circular �ow of income
and spending. Saving is a leakage and not
an injection because saving is transferred
to a bank, which means that it goes out of
the circular �ow. Imports are a leakage
because we are spending money on goods
and services outside the country. Taxes
are leakages from the circular �ow
because the government uses taxes to
purchase goods and services.
4 of 17 2025/05/13, 14
