Description
ECS2606 Assignment 1 Semester 1 | Due 24 March 2025. All questions answered.
1. Explain and diagrammatically illustrate the impact that the Covid-19 -pandemic induced restrictions on economic activities imposed in many countries across the world in 2020/21 had on the materials balance principle. [10]
2. Explain with the aid of production possibility curves how your country could limit the production and consumption of future generations by current irresponsible consumption and production. [10]
3. Make use of appropriate examples to explain and distinguish between opportunity costs and external costs. [10]
4. Explain the difference between positive and normative economics and provide two examples in each case. [10]
5. Draw two graphs to explain how the impact of inelastic and elastic demand curves will differ if environmental policies are enforced. [10]
Reviews
There are no reviews yet.