Economics ib ecs1601 - Study guides, Class notes & Summaries

ECS1601 ASSESSMENT 3 2024 If GDP is greater than GDE, a. the country has a deficit in the current account. b. exports are greater than imports.  c. taxes are more than government expenditure. d. the country is consuming more than it is producing.

ECS1601 ASSIGNMENT 6 EXPECTES QUESTIONS AND SOLUTIONS master general

ECS1601 ASSESSMENT 2 2024 Which one of the following statements regarding government spending and the financing of such spending is incorrect? a. Personal income tax is the only source of revenue that can be used to finance government spending. b. The income received from state-owned enterprises forms part the sources of revenue for government. c. Government spending can be financed through taxation and borrowing. d. The difference between government spending and taxation is called the budg...

Exam (elaborations) ECS1601 - Economics IB (ECS1601)

Microeconomics studies the decisions of individuals and firms to allocate resources of production, exchange, and consumption. Microeconomics deals with prices and production in single markets and the interaction between different markets but leaves the study of economy-wide aggregates to macroeconomics

ECS1601 ASSESSMENT 2 2024 Which of the following statements is/are correct with regard to value added tax (VAT)? a. VAT is only levied on a few goods. b. VAT is selective tax and excise duty. c. VAT is the general tax and excise duty. d. VAT is levied on most goods and services. Which of the following elements are regarded as government intervention? a. Taxation and borrowing only. b. Spending, borrowing and taxation. c. Spending and taxation only. d. Spending, interest ...

ECS1601 DETAILED QUESTIONS AND ANSWERS Exam (elaborations) - Economics IB (ECS1601) for more help contact 0717 513 144 , 068 053 8213, 061 262 1185

ECS1601 ASSIGNMENT 7 (COMPLETE ANSWERS) 2024 - DUE 02 NOVEMBER 2024 Course Economics IB (ECS1601)

ECS1601 DETAILED QUESTIONS AND ANSWERS Exam (elaborations) - Economics IB (ECS1601) for more help contact 0717 513 , 068 053 8213, 061 262 1185

ECS1601 Exam Preparation For 2022 – Past Papers with verified Answers. Households are confronted with unlimited wants, but with limited resources with which to satisfy those wants b) The scarcity of resources necessitate households to make choices - ANS-both a and b are correct Which of the following is/are correct regarding the distinction between macroeconomics and microeconomics? a) The price of apples at the supermarket is an example of a macroeconomic variable. b) An increase in th...