Economics IA

University of South Africa (Unisa)

Here are the best resources to pass Economics IA. Find Economics IA study guides, notes, assignments, and much more.

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ECS1501 ASSESSMENT 1 SEM 1 OF 2024 EXPECTED QUESTIONS AND SOLUTIONS

ECS1501 ASSESSMENT 1 SEM 1 OF 2024 EXPECTED QUESTIONS AND SOLUTIONS
Exam (elaborations) • 32 pages • 2023

THIS DOCUMENT PROVIDES EXPECTED QUESTIONS AND SOLUTIONS FOR ECS1501 SEM 1 OF 2024. CORRECT USE WILL HELP YOU SCORE ABOVE 75 %

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What is the opportunity cost of increasing the production of laptops by 1 000 in the hypothetical country mentioned in the study guide? 18 000 mobile phones. 4 000 laptops 8 000 laptops 8 000 mobile phones

What is the opportunity cost of increasing the production of laptops by 1 000 in the hypothetical country mentioned in the study guide? 18 000 mobile phones. 4 000 laptops 8 000 laptops 8 000 mobile phones
Exam (elaborations) • 11 pages • 2023

Owners of natural resources earn income through the payment or rent they receive for the use of the natural resources.

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What is the difference between capital goods and consumer goods? Consumer goods are used repeatedly in the process of production, whereas capital goods are used up immediately. Consumer goods are created to produce goods and services, whereas capital go

What is the difference between capital goods and consumer goods? Consumer goods are used repeatedly in the process of production, whereas capital goods are used up immediately. Consumer goods are created to produce goods and services, whereas capital go
Exam (elaborations) • 9 pages • 2023

he forgone wages are included in the calculation of the opportunity cost to society because society is losing the contribution to production that the student could have made if he or she were not studying.