Eco1010f Tutorial 3
Answer all questions. 25 marks in total. Due Friday 14 March @ 14h00.
Short Answer Questions
1) List all of the exogenous variables that shift the demand curve and give examples of each one
(the examples must be your own and not those
Eco1010fTutorial8
Answerallquestions.30marksintotal.DueFriday2ndMay@14h00.
1. Bianca keeps beehives and sells 100 quarts of honey per month. The honey market is
perfectly competitive, and the price of a quart of honey is R10. Bianca has an average
variabl
Eco1010f Tutorial 3
Answer all questions. 25 marks in total. Due Thursday 20 March @ 14h00.
Short Answer Questions
1.
Price Elasticity Of Demand
[5 marks in total]
1.1
Explain the effect of close substitutes on the price elasticity of demand. [1]
1.2
With
Eco1010f Tutorial 1
Answer all questions. 25 marks in total. Due Friday 28 February @ 14h00.
Fill in the Blanks [5 marks]
1. A (transitional, mixed) _ economic system is one that is moving from one point
on the command-market continuum to another.
2. In t
Eco1010f Tutorial 5
Answer all questions. 30 marks in total. Due Friday 28 March @ 14h00.
1.
Use the information below for the South African economy to answer the questions that
follow.
In 2013, approximately 6.7 million households paid an average price o
Eco1010f Tutorial 2
Answer all questions. 25 marks in total. Due Friday 07 March @ 14h00.
True / False Questions
1.
A PPF for country producing capital and consumer goods is shown below. Say whether each
of the following statements is true or false.
[4 ma
Eco1010f Tutorial 10
Answer all questions. 30 marks in total. Due Friday 16 May @ 14h00.
Tutorial 10
Markets for factors of production
Question 1
Fatima owns a fish store. She employs students to sort and pack the fish. Students can pack the
amounts of fi
Eco1010f Tutorial 9
Answer all questions. 40 marks in total. Due Friday 9 May @ 14h00.
Question 1
The global demand for super-large passenger aeroplanes is represented the following equation:
P = 150 million 10 million Q.
Note that this demand equation ha
Eco1010f Tutorial 7
Answer all questions. 30 marks in total. Due Friday 25 April @ 14h00.
PART A
1. By giving relevant examples, distinguish between accounting profit and economic profit [3
marks]
2. Thabang is a young doctor who has just started her own
Eco1010f Tutorial 6
Answer all questions. 30 marks in total. Due Friday 4 April @ 14h00.
SHORT ANSWER QUESTIONS
1.1
In your own words, explain the utility-maximizing rule?
[2]
1.2
Explain how total and marginal utility are related?
[2]
1.3 Explain the dif