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ECO3020F Economics Assignment Answers

1. Micro topic “Critically discuss the efficiency and equity implications of using income-contingent taxes or loans to fund tertiary education in South Africa.” In response to the above make sure to write on each of these themes: 1) economic rationale, 2) equity rationale, 3) theoretical/model rationale, and 4) South African context. 2. Macro topic: “Discuss the impact of public debt on government finances in developing […]

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Advanced Diploma in Management Assignment Answers

QUESTION ONE [20] “Modern technology, enables even perishable goods to be stored for longer periods of time.” In terms of the above statement, with the aid of suitable diagrams contained in the demand- supply model, examine how the above factor impacts the equilibrium price and quantity for consumers and suppliers. QUESTION TWO [25] Assess how the production possibility frontier illustrates the basic economic problem of […]

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Economics 511 Business and Management Sciences Assignment Answers

QUESTION ONE (35 MARKS) The patterns in demand can seem mysterious at first, but if you familiarize yourself with the ideas contained in customer demand theory, you can make reliable predictions about customer behavior. Many thinkers over many years developed this theory, and it helps anticipate reactions to changes in the way people market products and services. Source: Johnston, K. (2023). https://smallbusiness.chron.com/customer-demand-theory-37253.html Based on the […]

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World food prices were already climbing Assignment Answers

QUESTION 1 (20 MARKS) World food prices were already climbing, and the war made things worse, preventing some 20 million tons of Ukrainian grain from getting to the Middle East, North Africa and parts of Asia. Russian hostilities in Ukraine are preventing grain from leaving the “breadbasket of the world” and making food more expensive across the globe, threatening to worsen shortages, hunger and political […]

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The aggregate demand curve Assignment Answers

QUESTION ONE [30] “The aggregate demand curve, like the demand curves for individual goods, is downward sloping, implying that there is an inverse relationship between the price level and the quantity demanded of real gross domestic product.” In terms of the above statement, examine the three (3) reasons for the downward-sloping shape of the aggregate demand curve. QUESTION TWO [20] “Monetary policy is the macroeconomic […]

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PMIC5111w Microeconomics Assignment Answers

Question 1 (Marks: 100) The purpose of this assignment is: • to guide you in developing a good understanding of the nature and importance of the field of Economics; and • to build a solid understanding of the microeconomic principles of demand and supply. You have been tasked with developing a research report based on an economy of your choice anywhere in the world. The […]

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Economics 1 (HECO130-1) Assignment Answers

SECTION A [55 marks] QUESTION 1 (10 Marks) Convert the following decimals into a percentage: a) 0.66 (1 mark) b) 1.75 (1 mark) c) 0.015 (1 mark) d) 0.001 (1 mark) The revenue of Thabo’s enterprise over two years is shown below. Calculate the percentage change in revenue from 2021 to 2022 Year 2021 2022 Revenue R1 500 000 R 1800 000 (3 Marks) Simplify the […]

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Economics Assignment Answers Regent Business School

QUESTION ONE [30] Discuss the consumer equilibrium condition according to utility theory. (10) Discuss the concept of returns to scale in specific relation to the diagram below: (13) Differentiate between the market supply of labour curve and the individual supply of labour curve. (7) QUESTION TWO [30] Discuss the nature of the goods produced by firms in the following market structures: Perfect competition (4) Monopoly […]

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Economics 1 Assignment Answers

QUESTION ONE [30] Discuss price floors as a form of government intervention in a free market. Use examples to motivate your answer. (8) Question 1.2 is based on the diagram below representing the free market for a good. How does this free market adjust if it is in the shaded green area. (5) Demonstrate that a complete outward shift of the production possibility frontier for […]

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Economics 511 Assignment Answers South Africa

Question 1 (30 MARKS) In 2019, we counted 5,287 stores, including the more ‘vague’ tallies such as Chicken Licken’s “over 200 stores” and Roman’s Pizza’s “over 220 stores”. We also included smaller shops like Sausage Saloon and King Pie for the first time. When it comes to fast food, Kentucky Fried Chicken (KFC) is by some margin the most prolific brand in the country, with […]

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