Quiz_ Systems Theory & Thinking

-1h-future-act-1 - Word Hernandez, Joshua Layout References Mailings Review View Help O Tell me what you want to do -A A Aa - E-E-E, EE A T AaBbCcD. AaBbCJ AaBbC 1. AaBbC AaBbCcD AABI AaBbC x A A = 三 , 田。 Body Text1 Bullet poi. Checkboxes Numbere. Student A. Heading 1 Heading 2 Paragraph Styles Review Jason's assets and debts. Then answer the questions. JASON'S ASSETS AND DEBTS Assets Debts House: $150,000 Mortgage: $110,000 Car: $10,000 Car loan: $6,000 Checking and savings accounts: $5,000 Stocks and bonds: $3,000 Student loans: $12,000 Credit card debt: $5,000 Possessions: $4,000 3. What is Jason's net worth? 4. What would Jason's net worth be if he received a bonus at work and used all of it to completely pay off his credit card debt? 5. What can happen if you pay your mortgage, car loan, student loan, or credit card bill late? 6. Describe a situation in which it would be wise to use a credit card to pay for something. Home D00 F11 F12 F9 F10

12.Which of the following is true of an economic theory? a. It uses complex mathematical equations to explain the problem of scarcity of resources b.It seeks to prove political ideals and establish a moral code of conduct c. It seeks to strengthen the role of the government in an economy d. It is a deliberate simplification of factual relationships

(1) Classify the following topics as relating to microeconomics or macroeconomics. (5) a. a family’s decision about how much income to save b. the effect of government regulations on auto emissions c. the impact of higher national saving on economic growth d. a firm’s decision about how many workers to hire e. the relationship between the inflation rate and changes in the quantity of money

Question: The study of economics uses scientific methods, but it is NOT a laboratory science. Instead, it is referred to as which kind of science? A. False B. Near C. Social D. Neuro

1. Give 5 characteristics and examples of economics as applied science. 2. Give 5 characteristics and examples of economics as social science

1. a. Explain the following in not more than half a page - Opportunity cost. - Production possibility frontier. - scarcity b. Using an appropriate diagram, explain how the production possibility frontier becomes a model of scarcity, choice and opportunity cost. c. Explain the stages of production  d. Explain 6 relevance of the stages of production to a business operator.

1. Explain the difference between micro economics and macroeconomics. 2. Demonstrate an understanding of the coordinate system by using it to outline the relationship between economic variables.

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2:16 A [Template] ACTI.. o College of the Immacutate Concoption Cabanatuan City INSTITUTE OF HIGHER STUDIES PURPOSIVE COMMUNICATION ACTIVITY 5 Name: Score: Section: Date: Topic: Multi- Cultural Setting Directions: In a sentenc inevitable in the following: or two, explain why communicating in a multi-cultural 1. Globalization 2. Business opportunities 3. Job opportunities 4. Sharing of views and ideas 5. Talent improvisation 6. Understanding diverse market

1. How can we apply the core principles of scarcity, choice, opportunity cost and cost-benefit analysis to the decision-making processes? 2. Explain the difference between micro economics and macroeconomics. 3. Demonstrate an understanding of the coordinate system by using it to outline the relationship between economic variables.

Carefully define the following terms and explain their importance to the study of economics. a. resources b. rational decision c. scarcity d. opportunity cost

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19. One research is being conducted about how gold prices change due to the changing preferences of individual consumers. Research such as these belong to the study of ______________. a. International economics b. Microeconomics c. Public economics d. Macroeconomics

Economics is a social science which deals with human behavior as a relationship between ________. a. unlimited buyers and limited sellers b. consumption and production c. unlimited wants and scarce resources d. unending wants and limited people

1. Classify the following as microeconomics or macroeconomics and provide a justification for your choice. a. The effect of rising oil prices on employment in the airline industry.  b. A comparison of alternative tax policies and their respective impacts on the rate of the nation’s economic growth. c. Changes in the nations unemployment rate over short periods of time. d. The effect of changes in household saving rates on the growth rate of national income.

16. Explain positive and normative statement with examples for each?

5. Give four examples of normative and positive statements. Explain.

Choose the correct answer:

Explain difference between; 1.Microeconomics and macroeconomics  2.Positive and Normative economics

1.a. i. Using an appropriate diagram, explain how the production possibility frontier becomes a model of scarcity, choice and opportunity cost. ii. Explain the stages of production  iii. Explain 10 relevance of the stages of production to a business operator.

19.  Which of the techniques is not employed in microeconomics? a. Models c. mathematics b.Dissection  d.statistics _____20. Microeconomic Theory studies the economic behaviour of: a.Consumer  c.Business firm b. A resource owner  d. household

1.    Classify the following topics as relating to microeconomics or macroeconomics. a. A family’s decision about how much income to save b. The effect of government regulations on auto emissions c. The impact of higher national saving on economic growth d. A firm’s decision about how many workers to hire e. The relationship between the inflation rate and changes in the quantity of money   2.    Classify each of the following statements as positive or normative. Explain. a. Society faces a short-run trade-off between inflation and unemployment. b. A reduction in the rate of money growth will reduce the rate of inflation. c. The Federal Reserve should reduce the rate of money growth. d. Society ought to require welfare recipients to look for jobs. e. Lower tax rates encourage more work and more saving

Please answer all the items, thanks. Choose the letter of the correct answers.

1. The discipline that provides the means for recording/writing the economic history which has facilitates the dealing between business enterprises is? -------------------------------------------- 2. Scholars has described accounting as the ---------------------------------------- of businesses 3. The economic history of an organization is essential for? --------------------------------------------- 4. The definition of accounting is pivoted on three pillars, state them. ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- 5. The routine work schedule of a bookkeeper on daily basis has been summarized into four stages, List them. ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- 6. The routine accounting practice processes on…

1.1 Factors of production A. are normative concepts. B. are studied primarily in microeconomics. C. represent the classification of different resources available to an economy. D. represent the trade-offs as you move along the demand curve. E. represent the trade-offs as you move along the isoquant curve. Use the following information to answer questions 1.2 to 1.4: Suppose the demand for a product can be represented by Qd = 100 - 5P, while the supply is given by the equation Qs = -12 + 3P, where price is in rand. 1.2 The equilibrium price for the product is the following: A. R6.67 В. R15 С. R5 D. R20 E. None of the above values. 1.3 At the equilibrium, the quantity is А. 45. В. 33. C. 18. D. 25. E. None of the above values.