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- Would a research study on the effects of soft drink consumption on childrens cognitive development he a positive or normative statement?5. Discuss the concept of Economic Goods.?1. Show the market for potatoes on a graph and show what will happen if there is a drought in Idaho (where a lot of potatoes are grown) b. On another graph, show what will happen in the market for potatoes if there is a drought in China (where, I presume, a lot of rice is grown).
- What is a market?a. Name five types of markets in which you participate.b. What markets trade economic resources?Describe the two main classifications of “Markets” and what roles do prices play in exchange of the goods and services?In about 300 words explain why prices are an important aspect of how goods and services are allocated in a market economy. Pick an example of a good or service and explain the role that its price plays in determining who received it.
- 1. It is primarily the basis of economic activity a. economics b. scarcity c. social science d. abundance 2. What happen to the demand for tilapia if the price of bangus will go down? a. prices of tilapia remains b. price of bangus remains c. shift to the right d. shift to the left If cruz family lessens their demand expenditures for rice because they want pandesal for their breakfast, this is a. time efficient b. taste and preference c. decrease in income d. saving for cooking gas1. Which allocation system do you think is the most productive or the fairest? Explain. 2. Compare and contrast the Market System and the Planned System.2. Explain the economic activities between consumers and producers using a circular flow image.
- What is commodity A.something that producers unable to sell to consumers B.A resource that is available in unlimited quantities C.An exchange between a producer and a consumer D.something of value that can be bought sold or traded10- Which of the following deals with Lionel Robbins definition of economics? a. behavior associated with using limited and scarce resources. b. None of these c. the distribution of surplus goods to those in need. d. ways to reduce wants to remove the problem of scarcity.17. is a schedule that shows various amounts of a good or service a seller is willing and able to sell at each possible price during a particular period. A. Production possibilities curve B. Capacity utilization C. Demand D. Supply