college_subject_questions_document_19

Question 13 A Nigerian household would have to make a decision on whether to purchase Starlink's internet because... a) of the concept of opportunity cost ) ...of the concept of shortage ...of the concept of scarcity ...of the concept of choice

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1. Classify the following questions as Microeconomics or Macroeconomics and provide a justification for your choice. (i) How will the market for melons be affected after Hurricane Dean? (ii) How much will the Trinidadian economy grow this year? (iii) What are the factors which determine the choice that a person makes between buying a Honda Accord or a Toyota Corolla? (iv) What will the inflation rate be for Belize?

Part 4 Question B: “Economic Decision-Making Process”  Prompt: explain how each stage is critical in a consumer’s ability to maximize the effectiveness of spending their household income and the role ‘Opportunity Costs’ play in determining the level of success of that final choice.”

Classify the following as microeconomics or macroeconomics and provide a justification for your choice.(a) Research into why the growth rate of total production increased.(b) A theory of how consumers decide what to buy.(c) An analysis of IBM's share of the personal computer market.(d) Research on why interest rates in a country were unusually high.

Identify each of the following topics as being part of microeconomics or macroeconomics: the effect of a change in the price of Coke on the purchase of Pepsi. (a) microeconomics (b) macroeconomics

Topic One: Substitutes and Complements 1. How do retail stores display their merchandise taking into account substitute or complementary goods? Give some examples. 2. Have your purchases been influenced by these marketing techniques? Give some examples. Topic Two: Measuring Opportunity Cost How would you suggest to measure the opportunity cost of a parent that chooses to play with their child vice play sudoku? How would you measure the opportunity cost of the kid? Topic Three: Marginal Analysis, Opportunity Cost We read this week that opportunity cost must be used to make rational decisions, we also read that people should make decisions after considering marginal benefit versus marginal cost. Could you think in situations that you could use opportunity cost, marginal benefit and marginal cost concepts to make your own decisions? Provide examples.

42. Hutchins' research on cognitive artifacts investigates how tools influence which cognitive functions? a) Memory b) Attention - c) Problem-solving I - d) Perception

discuss briefly (7-8 lines) the meaning of "economic analysis is marginal analysis" and give a personal example! (please give any personal example!)

In this week’s discussion, we focus on how the market changes when there are changes to the supply or demand of goods and services. (a) “This year the weather smiled on us, and we made a good crop,” said a wheat farmer in Manitoba. “But just as we made a good crop, the economic situation changed.” This quotation brings to mind the saying, “If you are a farmer, the weather is always bad.” How would use economic theory to explain that this saying might be true and what would you suggest the farmer do to make the best of the situation despite good or bad weather? (one paragraph) (b) Along with your textbook reading, review the related videos and article for a background on Canada’s marijuana legalization, then respond to the following questions:Do you see any economic effects not mentioned that might occur in the longer period? What major changes do you see happening with the supply and demand sides of the cannabis market in the long run? (1-2 paragraphs; no mini essay).

Marginal Analysis 5. Suppose you choose to eat 3 slices of pizza for dinner. An economist who is using marginal thinking to analyze your decision would be most interested in the answer to which of the following questions? A) Why did you eat 3 slices of pizza instead of 4 B) Why did you eat more than 1 slice of pizza? C) Why didn't you eat 5 slices of pizza? D) Why did you have pizza instead of a salad? 6. The additional benefits you would get if you had taken 1 more credit this semester is the: A total beneit of college credits B) marginal cest of a college credit total cost of college credits D) marginal benefit of a college credit/ 7. Which of these gives the best definition of "the margin" as economists use the term? A The value of the next best choice that you give up when you make a decision E The limit to an individual's ability to do complex mathematical calculations C) The dividing line between an action that is taken and an action that is not taker ) The difference between the…

"DIFFERENCE BETWEEN NEEDS AND WANTS" It is very important to find the difference between want & need. The money that would be spent on things that you may want in that moment could instead be saved or put into things that are more important. By doing this you may see that you can save a lot of money, by not buying things that are not needed and even and that most of your money is not even being spent *Make a response,question, or clarification for that opinion

Q) .For a given question to be considered an economic question, it would need to involve:(a)money.(b)business.(c)a graph.(d)limited resources only.(e)limited resources and making a choice. Explain this with correct choice.

Question: Which of the following best describes the concept of opportunity cost in economics? A) The total cost of producing a good or service B) The monetary cost of purchasing a good or service C) The value of the next best alternative forgone when a decision is made D) The additional cost incurred when producing one more unit of a good or service

(a) Distinguish between microeconomics and macroeconomics

The Core Principles of Economics End of Chapter Problem Consider your decision to read this textbook on economics. Identify which of the four core principles of economics is most relevant for each aspects of that decision. a. "Reading this textbook will help establish a solid foundation for understanding concepts you will learn in more advanced economics courses." This statement is related to the opportunity cost principle. b. "Reading this textbook will require time and effort, but doing so will help you improve your grade in this course." This statement is related to the cost-benefit principle. c. "The time you will spend reading this textbook can also be used to study for your chemistry exam." This statement is related to the cost-benefit principle. d. "Each page that you read and each practice problem that you complete will help you increase your understanding of the material." This statement is related to the marginal principle.

“Economics should be the preserve of only finance students. For me as a management student, it is much ado about nothing. Why should I be concerned with economics?” These are the words of a first year HND Sec and Mgmt. student contemplating on the relevance of economics. As aseasoned scholar how would you address the concerns raised? Justify your position with four (4) points.

Need help with economics review questions (multiple choice) 16. The following is a list of activities that Ali can do a Saturday night:                                     1) Trading on crypto exchanges like a boss.2) Deadlifting like a pro.3) Retaking Constantinople (peacefully) like a Chad.In order of preference, Ali equally enjoys retaking Constaninople and deadlifting. He hates trading on crypto exchanges. What is Ali’s opportunity cost of deadlifting?(A) The benefit from deadlifting.(B) The benefit from retaking Constantinople.(C) The benefit from trading on crypto exchanges.                                                      (D) None of the above. 17. From an economic perspective, why should the best teacher in the world never teach?(A) Because the top guy never simps for the education system.(B) Because with his talents, he can make more money in another job.(C) Because teaching will become superfluous in the near future with the implementa- tion of artificial intelligence…

No written by hand solution

Question content area Part 1 Which of the following statements is true of theories in​ economics? Part 2 Theories in economics Part 3 A. are developed to explain observed phenomena free from restrictions imposed by a set of . B. are used to construct models from which quantitative predictions can be made. C. are . D. Both A and B are correct. E. None of the above.

Question 6 On which of the following concepts do economists focus their study when explaining how humans behave? emotions money fairness O incentives O justice

Macroeconomics or microeconomics