Exam (elaborations)
Ecs1501 Assignment 7 Semester 2 2023
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10/6/23, 12:47 PM Assessment 7 (page 2 of 18)UNISA 2023 ECS1501-23-S2 Assessments Assessment 7
QUIZ
Time left 1:16:18
Question 2
Not yet answered
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A decrease in the price of hamburgers would probably
result in _____ in the demand for hamburger patties.
random uctuations
no change
an increase
a decrease
Clear my choice
Question 3
Not yet answered
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A decrease in demand and a decrease in supply will
lead to _____ in equilibrium quantity and _____ in
equilibrium price.
an indeterminate change; a decrease
an increase; an indeterminate change
a decrease; an indeterminate change
an indeterminate change; an increase
Clear my choice
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=13981898&cmid=622807&page=1 1/1
,10/6/23, 12:52 PM Assessment 7 (page 3 of 18)
UNISA 2023 ECS1501-23-S2 Assessments Assessment 7
QUIZ
Time left 1:11:13
Question 4
Answer saved
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If coffee and tea are viewed as substitutes in
consumption, then an increase in the price of coffee
will
increase the demand for tea.
increase the supply of tea.
decrease the demand for tea.
increase the supply of coffee.
Clear my choice
Question 5
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In the market for canned brown beans, _____ will
increase if income decreases and if brown beans are
a(n) _____ good.
demand; normal
supply; normal
supply; inferior
demand; inferior
Clear my choice
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=13981898&cmid=622807&page=2 1/1
,10/6/23, 12:52 PM Assessment 7 (page 4 of 18)
UNISA 2023 ECS1501-23-S2 Assessments Assessment 7
QUIZ
Time left 1:10:56
Question 6
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Consider the market for GoPro cameras. What
happens if a fantastic new alternative camera is
developed and at the same time a ship carrying a large
shipment of GoPro cameras is attacked by pirates and
sunk?
Price increases and the change in quantity is
indeterminate.
Price decreases and quantity increases.
The price change is indeterminate and quantity
decreases.
Price increases and quantity increases.
Clear my choice
Question 7
Answer saved
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Which of the following factors would result solely in a
movement along the demand curve for a particular
good?
a change in the prices of related goods
a change in the price of that good
both a change in the price of that good and a
change in the size of the population
a change in the size of the population
Clear my choice
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=13981898&cmid=622807&page=3 1/1
, 10/6/23, 12:53 PM Assessment 7 (page 5 of 18)
UNISA 2023 ECS1501-23-S2 Assessments Assessment 7
QUIZ
Time left 1:10:08
Question 8
Answer saved
Marked out of 1.00
Assume that maize is an input in the production of
beef sausages but not in the production of pork
sausages. Further, beef and pork sausages are
substitutes in consumption. A decrease in the price of
maize will _____ the supply of beef sausages and _____
the demand for pork sausages.
decrease; decrease
decrease; increase
increase; increase
increase; decrease
Clear my choice
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=13981898&cmid=622807&page=4 1/1
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