Aggregate Demand and supply

Good morning grade 10 learners. Please watch the video below.

This video on the link below is used as an introduction to the AD and AS.

https://www.youtube.com/watch?v=TDfE9yb8xbc

Complete the Activity below

 1.1 Various options are provided as possible answers to the following questions. Choose the answer and write only the letter  ( A-C) next to the question number (1.1.1 to 1.1.5).

     1.1.1 Free goods are all the goods that are freely available from...                                                           (2)

         A. Government

         B.  nature

         C.  private sector

1.1.2......these goods command the price                                                                                                          (2)

         A. Economic goods

         B. public googs

         C. free goods

1.1.3 This is one of the examples of free goods                                                                                                (2)

          A. Bread

          B. car tires 

          C. sunshine

1.1.4 This does not form the part of Four components of AD.                                                                            (2)

          A. consumption

          B. Imports

           C. investment

1.1.5 The........is one of the factors that influence AD.                                                                                        (2)

           A. sum of consumer spending

           B. consumptions expenditure.

           C. increase in the price of goods

Watch the video below and read the notes. This information give a detailed explanation of Free goods and Economic goods.

https://www.youtube.com/watch?v=LMgNYarCW1g

An economic good is a good or service that has a benefit (utility) to society. Also, economic goods have a degree of scarcity and therefore an opportunity cost. This is in contrast to a free good (like air, sea, water) where there is no opportunity cost – but abundance.

Since it is a multiple-choice activity, learners are expected to give only the correct answer.

Mark allocation                                                                                                                                                                                                   

Aggregate demand and aggregate supply are triggered together to determine the equilibrium. Equilibrium is the point where supply and demand meet. According to Hume, in the short run, an increase in the money supply tends to lead to an increase in production.

The credit is given to Hume, he is the one who uploaded these videos to YouTube in order for us to get very useful content.

I also used some textbooks to find the content of this topic, so I give credit to the authors.

 Economics for SOUTH AFRICAN STUDENTS and ECONOMICS, MIND THE GAP.

For the learners to get in touch with me, if it may happen that they have queries. They can use any of the following

Email: nyamanasiyanda123@gmail.com

WhatsApp: 0781234177