Exam (elaborations)
ECS 1601-Assignement 3-Semester 2-2022
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ECS1601 Assignment 3 Semester 2 2022-Questions & Expected Answers- 5
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6/1/22, 10:16 AM Assessment 3: Attempt reviewMENU
Dashboard / Courses / UNISA / 2022 / Semester 1 / ECS1601-22-S1 / Online assessment / Assessment 3
Started on Friday, 15 April 2022, 8:41 AM
State Finished
Completed on Friday, 15 April 2022, 9:45 AM
Time taken 1 hour 3 mins
Marks 18.00/25.00
Grade 72.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
Which of the following statements about the circular flow of production, income, and spending is/are true?
(1) Firms are sellers in the factor market and buyers in the goods markets.
(2) In the real sector, both factors of production and goods and services are traded.
(3) In the circular flow of economic activity, the financial sector operates independently of the real sector.
(4) Households are both sellers and buyers in the flow of economic activities.
Select one:
a. (2) (3)
b. (4)
c. (1) (3) (4)
d. (1) (4)
Refer to sections 1.4 and 1.5 in the prescribed textbook.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=2369126&cmid=117338 1/13
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