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- Watch a YouTube video about Production Possibility Curve/Frontier and explain1. 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.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.
- Connecticut has a large maple syrup industry. Give an example that would explain scarcity and economic decision making in the context of the state's maple syrup industry. Be sure to include all the relevant details.The following people are considered as strategic thinkers in business 1. Bill Gates 2. Steve Jobs 3. Elon Musk. Indicate a short justification for why do you think they are a strategic thinker. Give examples of situationMy question is how to complete the last part talking about the 1200 bushels of corn and 1000 tons of steel.
- Question 10: Doctrow uses the following terms to describe; Someone who puts capital into production and refinement A Audiences B Investors C Intermediaries D CreatorsThese questions come from this article about the Honeycrisp apple (Links to an external site.). (It really is a fantastic apple!) I have a feeling you guys may not love this assignment either but try to think carefully about these things. It's harder than it looks. I'm not gonna grade your answers for their length so try to keep them to the point. If you don't know the answer to something, don't write a long rambling paragraph full of econ-sounding words hoping I will give you partial credit. I won't. Just skip it (or better yet, think about it until you DO know the answer....) 1. The article poses the question: "So why do farmers put up with the hassle?" And then answers it: "They simply don’t have a choice. The demand for this one apple exceeds supply—it’s all consumers, and therefore supermarkets, want." Do growers, in fact, have a choice here? If so, why would they CHOOSE to grow Honeycrisp when it is more difficult and expensive than other varieties? What could…what is command economy? and give discussion on command economy advantages and disadvantages ?