How often Participants and the circular flow of income is asked

Where it was asked

What costs marks here

Marker’s traps come from memos. We don’t have one for this module yet.

A memo tells us what the markers actually rewarded and penalised. With one, this section fills in for every student — help us get one.

The questions

  1. Oct/Nov 2017, QB.82 marks · multiple choice

    This is Section B of the ECS1501 October/November 2017 examination, consisting of 35 compulsory multiple-choice items, each worth 2 marks (70 marks in total, 84 minutes allowed). For each item, select the correct option from those listed. Considering the three major flows in the economy, what specifically generates an income for consumers (households)?

  2. Oct/Nov 2017, QB.92 marks · multiple choice

    This is Section B of the ECS1501 October/November 2017 examination, consisting of 35 compulsory multiple-choice items, each worth 2 marks (70 marks in total, 84 minutes allowed). For each item, select the correct option from those listed. If you sell your capital in the factor market, what type of remuneration will you receive in return?

  3. Oct/Nov 2017, QB.102 marks · multiple choice

    This is Section B of the ECS1501 October/November 2017 examination, consisting of 35 compulsory multiple-choice items, each worth 2 marks (70 marks in total, 84 minutes allowed). For each item, select the correct option from those listed. A circular-flow-of-income diagram shows Firms and Households connected via a Factor market and a Goods market. Two arrows in the diagram, labelled a and b, run between the Factor market and Households: arrow a runs from the Factor market toward Households, while arrow b runs from Households toward the Factor market. What do arrows a and b represent?

  4. Oct/Nov 2017, QB.112 marks · multiple choice

    This is Section B of the ECS1501 October/November 2017 examination, consisting of 35 compulsory multiple-choice items, each worth 2 marks (70 marks in total, 84 minutes allowed). For each item, select the correct option from those listed. Which one of the following statements about the goods market and the factor market is correct?

  5. May/Jun 2017, QB82 marks · multiple choice

    This is Section B, the compulsory multiple-choice component of the ECS1501 May/June 2017 exam, consisting of 35 items worth 70 marks in total (2 marks each, since the paper does not print individual marks per item but states the section is compulsory). Which of the following statements about the relationship between production, income and spending is true?

  6. May/Jun 2017, QB92 marks · multiple choice

    This is Section B, the compulsory multiple-choice component of the ECS1501 May/June 2017 exam, consisting of 35 items worth 70 marks in total (2 marks each, since the paper does not print individual marks per item but states the section is compulsory). If you sell your natural resources (such as land) on the factor market, what type of remuneration would you receive in payment?

  7. May/Jun 2017, QB102 marks · multiple choice

    This is Section B, the compulsory multiple-choice component of the ECS1501 May/June 2017 exam, consisting of 35 items worth 70 marks in total (2 marks each, since the paper does not print individual marks per item but states the section is compulsory). A circular flow diagram links four blocks - Firms, Households, a Factor market and a Goods market - with arrows. One arrow, labelled 'a', originates outside the diagram and flows down into the Factor market and then across into Firms, representing something that passes from households, via the factor market, to firms. Which of the following could realistically be represented by the arrow labelled 'a'?

  8. May/Jun 2017, QB112 marks · multiple choice

    This is Section B, the compulsory multiple-choice component of the ECS1501 May/June 2017 exam, consisting of 35 items worth 70 marks in total (2 marks each, since the paper does not print individual marks per item but states the section is compulsory). In the same circular flow diagram linking Firms, Households, the Factor market and the Goods market, a second arrow, labelled 'b', flows from the Goods market into a small box and then down into Households, representing something that passes from firms, via the goods market, to households. Which of the following could realistically be represented by the arrow labelled 'b'?

  9. May/Jun 2016, Q91.43 marks · multiple choice

    Regarding the three major flows in the economy, which of the following statements is incorrect?

  10. May/Jun 2016, Q111.43 marks · multiple choice

    If John sells his capital to firms on the factor market, what type of remuneration will he receive?

  11. May/Jun 2016, Q121.43 marks · multiple choice

    Determine the correct statement describing the difference between the goods market and the factor market.

  12. May/Jun 2016, Q131.43 marks · multiple choice

    Identify which of the following represents a leakage from the circular flow of income and expenditure in South Africa.

  13. May/Jun 2016, Q141.43 marks · multiple choice

    Determine which one of the following statements about the circular flow of income and expenditure is true.

  14. May/Jun 2015, Q101.4286 marks · multiple choice

    This is the ECS1501 (Economics IA) May/June 2015 examination, a closed-book, multiple-choice paper lasting 2 hours and worth 100 marks in total. It contains 70 questions that must all be answered on a mark-reading sheet using unique number 492522. The paper states each question carries 1,4 marks, though 70 Ă— 1,4 = 98, not 100; the exact weighting must therefore be 100/70 â‰Ë†1,4286 marks per question to reach the stated total of 100 - a minor internal inconsistency in the printed paper. Identify which one of the following four statements about the economy is incorrect.

  15. May/Jun 2015, Q111.4286 marks · multiple choice

    This is the ECS1501 (Economics IA) May/June 2015 examination, a closed-book, multiple-choice paper lasting 2 hours and worth 100 marks in total. It contains 70 questions that must all be answered on a mark-reading sheet using unique number 492522. The paper states each question carries 1,4 marks, though 70 Ă— 1,4 = 98, not 100; the exact weighting must therefore be 100/70 â‰Ë†1,4286 marks per question to reach the stated total of 100 - a minor internal inconsistency in the printed paper. Complete the statement: capital is a ___ variable while investment is a ___ variable. This implies that capital has ___ and it can only be measured ___, while investment has a ___ and is measured ___. Select the option that correctly fills all six blanks in order.

The full Spot Map and the marks by year.