Crowdly

Add to Chrome

Universities
mymodules.dtls.unisa.ac.za
ECS1501-25-Y

ECS1501-25-Y

Looking for ECS1501-25-Y test answers and solutions? Browse our comprehensive collection of verified answers for ECS1501-25-Y at mymodules.dtls.unisa.ac.za.

Get instant access to accurate answers and detailed explanations for your course questions. Our community-driven platform helps students succeed!

A higher price for hot dogs would result in a

decrease in the demand for hot dogs ____

❌

decrease in the demand for hot dog buns.

✅

increase in the demand for hot dog buns.

❌

increase in the demand for hot dogs.

❌

View this question

Which of the following changes would not shift the demand curve for a good or service?

a change in income

a change in the price of the good or service

a change in the price of a related good or service

a change in expectations about the future price of the good or service

View this question

You lose your job and, as a result, you buy more iTunes music downloads. This shows that you consider iTunes music downloads to be a

inferior good.

luxury good.

normal good.

complementary good.

View this question

You wear either shorts or tracksuit pants every day. You notice that tracksuit pants have gone on sale, so your demand for

shorts will increase.

shorts will decrease.

tracksuit pants will increase.

❌

tracksuit pants will decrease.

View this question

You love pecan nuts. You hear on the news that 60 % of the pecan nut crop in the Limpopo Province has been wiped out, which will cause the price to triple by the end of the year. As a result,

your demand for pecan nuts falls as you look for a substitute good.

❌

the quantity pecan nuts demanded by you will decrease by the end of the year.

✅

your demand for pecan nut butter will decrease by the end of the year.

❌

you decide to give up pecan nuts completely.

❌

View this question

What is the law of demand?

When income levels increase, buyers respond by purchasing more.

❌