Economics 1) Shun owns a karate studio. He conducts lessons for both children and adults and offers a self-defense class once a week. Shun can be regarded as a(n) Multiple Choice entrepreneur. investor. shareholder. corporate employee. inventor.
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- Q: Determine whether the statement is true or false:- Economic relations in the production process do not depend on the form of ownership.Timothy quits his job, which pays $77000 a year, to enroll in a 3-year graduate program. His annual school expenses are $62700 for tuition, $9400 for books, and $1800 for food. What is his opportunity cost of attending the graduate program? What core principles are considered in Timothy's decision making?i) Scarcityii) Cost-Benefit analysisiii)Incentive Principle iv)Diminishing RetuurnsPls help with below homework. What is the main difference between the adaptive and the visionary approach ? Pls give atleast two examples.
- Q.4. Subject :- Economic12- Capitalist economies have these features, except __________. a. State control of the factors of production b. Profit motive c. Consumer's freedom d. Private ownership of resourcescasey recently inherited $100,000 from her grandma rather than invest the money in a mututral fund that earns 5% she quit her job of translator which paid $60,000 and started casey's coffee crush which is recently cost $20,000 for this year. the equipments and machines cost $60,000. staffs help and advertising cost another $ 40,000 in her first year her revenue was $150,000 what is the implicit opportunity cost of casey's coffee crush?
- 2(b)(i) Timothy quits his job, which pays $6000 a year to enroll in a 2-year graduate program. His annual school expenses are $60000 for tuition, $8000 for books and $1400 for food. What is his opportunity cost of attending the graduate program. 2b(ii) What core principles are considered in Timothy’s decision making? Scarcity, choice and opportunity cost Cost-Benefit analysis Incentive principle Diminishing returns Select one: All principles are considered (i) only (i) and (ii) only (i), (ii) and (iii) only (ii) and (iii) only (i) and (iv) only (ii) and (iv) only (iii) and (iv) onlyTimothy quits his job, which pays $50400 a year, to enrol in a 4-year graduate program. His annual school expenses are $50800 for tuition, $8000 for books, and $3600 for food. What is his opportunity cost of attending the graduate program? What core principles are considered in Timothy's decision making? (i) Scarcity, Choice and Opportunity Cost (ii) Cost-Benefit analysis (iii) Incentive Principle (iv) Diminishing Returns1.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.
- a.Discusses the principles of individual decision making with examples b.Explain with your own words the determinants of price elasticity of demand. c. The production possibilities frontier curves show the concepts of scarcity, choice, opportunity cost, efficiency and economic growth. Discuss with examples, d. Do you think that the pure market economy in these circumstance of COVID 19 play an effective role in economy? Give four evidences from your point of view. ReplyForward14. What assumption is important in using economic model to make predicitons? a) the law of demand b) the rationality assumption c) ceteris paribus/ other things being equal d)evryone being a price takerWhich of the following description best characterizes capitalsm? a)Society decides what,how and for whom to produce b)Ownership of the means of production resides with a small group of individiual. c)it is an economic system based on individuals goodwill toward others