ECS 1601

University of South Africa

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ecs1601-summary
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49

november 2021

2021/2022
Flows Production, income and spending are all flows. They are measured over a period of time. This period must be specified. These are moving pictures of the economy. Stocks These are measured at a particular point in time. These are still pictures of the economy. Stocks can only change as a result of flows. Capital stock can only increase if investment is made. Apart from production, income, and spending, the other important economic activity that links the various sectors in the economy...
Dwayny
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ECS 1601 EXAM PACK
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56

september 2021

2021/2022

A+
STUDY UNIT 1 (CH 3) Multiple Choice Questions: 1.1 Which of the following statements are correct? a. A flow variable is measured over a specific period. b. Wealth, assets, liabilities and profit are all stock variables. c. Stocks can change as a result of flows. [1] All the statements are correct. [2] a and b [3] a and c [4] b and c [5] a 1.2 Which one of the following statements explains the difference between stocks and flows? [1] Stocks have a time dimension and flows are measure...
TestbanksNotesAssignmentsAndExampacksGuru
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ECS 1601 ASSIGNMENT 2
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13

september 2021

2021/2022

A+
2.1 An appropriate government intervention in the economy … [1] is to encourage a monopolistic market that satisfies the aggregate demand for goods and services by the public. [2] is to get involved in the economic sectors where the private sector is producing goods and services more efficiently. [3] involves measures to correct market failure and provision of public goods and services. [4] has to do with taking income from those with low incomes and providing income to those with high...
TestbanksNotesAssignmentsAndExampacksGuru
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ECS 1601 ASSIGNMENT 1
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7

september 2021

2021/2022

A+
Unique number : Closing Date : 21 August 2020 1.1 The three major flows in any economy are … [1] income, spending and saving. [2] income, government spending and consumption. [3] spending, production and investment. [4] production, income and spending. These are the flows that are discussed in the circular flow model. 1.2 The two major markets in the circular flow of income and expenditure are the … [1] foreign exchange market and factor market. [2] goods market and factor market....
TestbanksNotesAssignmentsAndExampacksGuru
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