OSCAR THE TUTOR
ECS 1601
2021 SEMESTER 2
ASSIGNMENT 1,2,3&4
+27844708483
, This document is for comparison and
research purposes only.
No part of this document can be submitted
as personal work or duplicated without
written permission from author
, ECS1601/101/3/2021
8.6.5 Assignment 01 (semester 2)
Assignment 01
Unique number 730716
Closing date 30 August 2021
Learning units 1 and 2 of the Study Guide and the
Content relevant 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 not one of the main macroeconomic policy objectives?
[1] full employment
[2] budget deficit
[3] equitable distribution of income
[4] balance of payments stability
1.2 Which one of the following is a macroeconomic statement?
[1] The gross profits of all South African businesses were measured and calculated to
have increased more last year than the year before
[2] The Spar Group’s profit increased in 2012
[3] The productivity of ZZ2 employees increased in 2012
[4] The price of beef will increase as the supply of beef falls
1.3 Which one of the following is not the purpose of economic theory?
[1] it serves as an underpinning for formulation and analysis of economic policies
[2] economic theory aims to predict changes in economic conditions and its impact on
overall economy
[3] economic theory explains how the real economy functions
[4] economic theory aims to capture every detail of a phenomenon under study
1.4 Spending in the economy comes from …
[1] land, firms, consumers and government.
[2] households, firms, government and foreign sector.
[3] foreign sector, capital and entrepreneur.
[4] government, labour, firms, and households.
57
, 1.5 Which one of the following statements on the remuneration of the factors of production is
true?
[1] the income for labour is rent
[2] the income for capital is profit
[3] the remuneration for natural resources is rent
[4] the income for entrepreneurship is interest
1.6 South Africa is an open economy. Therefore, the South Africa gross domestic product
formula is written as …
[1] GDP = C + I + G
[2] GDP = C + I + G + (X - Z)
[3] GDP = C+G+I+(X+Z)
[4] GDP = C+I
1.7 Which of the following statements is correct regarding factor markets in South Africa?
[1] households offer factors of production and receive income
[2] firms buy goods and services
[3] firms offer factors of production
[4] households buy factors of production
1.8 Which one of the following is a factor of production?
[1] money
[2] a bank loan
[3] machinery
[4] government
1.9 The two basic participants in the economy of South Africa are …
[1] free and controlled markets.
[2] households and firms.
[3] factor market and goods market.
[4] capital goods and consumer goods.
1.10 In the circular flow of economic activity without government and foreign sector, goods and
services flow via …
[1] factor markets from households to firms.
[2] goods market from households to firms.
[3] factor market to goods market.
[4] goods market from firms to households.
58
ECS 1601
2021 SEMESTER 2
ASSIGNMENT 1,2,3&4
+27844708483
, This document is for comparison and
research purposes only.
No part of this document can be submitted
as personal work or duplicated without
written permission from author
, ECS1601/101/3/2021
8.6.5 Assignment 01 (semester 2)
Assignment 01
Unique number 730716
Closing date 30 August 2021
Learning units 1 and 2 of the Study Guide and the
Content relevant 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 not one of the main macroeconomic policy objectives?
[1] full employment
[2] budget deficit
[3] equitable distribution of income
[4] balance of payments stability
1.2 Which one of the following is a macroeconomic statement?
[1] The gross profits of all South African businesses were measured and calculated to
have increased more last year than the year before
[2] The Spar Group’s profit increased in 2012
[3] The productivity of ZZ2 employees increased in 2012
[4] The price of beef will increase as the supply of beef falls
1.3 Which one of the following is not the purpose of economic theory?
[1] it serves as an underpinning for formulation and analysis of economic policies
[2] economic theory aims to predict changes in economic conditions and its impact on
overall economy
[3] economic theory explains how the real economy functions
[4] economic theory aims to capture every detail of a phenomenon under study
1.4 Spending in the economy comes from …
[1] land, firms, consumers and government.
[2] households, firms, government and foreign sector.
[3] foreign sector, capital and entrepreneur.
[4] government, labour, firms, and households.
57
, 1.5 Which one of the following statements on the remuneration of the factors of production is
true?
[1] the income for labour is rent
[2] the income for capital is profit
[3] the remuneration for natural resources is rent
[4] the income for entrepreneurship is interest
1.6 South Africa is an open economy. Therefore, the South Africa gross domestic product
formula is written as …
[1] GDP = C + I + G
[2] GDP = C + I + G + (X - Z)
[3] GDP = C+G+I+(X+Z)
[4] GDP = C+I
1.7 Which of the following statements is correct regarding factor markets in South Africa?
[1] households offer factors of production and receive income
[2] firms buy goods and services
[3] firms offer factors of production
[4] households buy factors of production
1.8 Which one of the following is a factor of production?
[1] money
[2] a bank loan
[3] machinery
[4] government
1.9 The two basic participants in the economy of South Africa are …
[1] free and controlled markets.
[2] households and firms.
[3] factor market and goods market.
[4] capital goods and consumer goods.
1.10 In the circular flow of economic activity without government and foreign sector, goods and
services flow via …
[1] factor markets from households to firms.
[2] goods market from households to firms.
[3] factor market to goods market.
[4] goods market from firms to households.
58
