Present your understanding of the ‘Circular Flow’ , by describing the role each of the five main economic institutions and markets play in the success of a ‘Mixed Market Economies’ ability to deliver quality high school education to its citizens.”

1. What are the characteristics of a good theory? What makes a theory practical? How can an entrepreneur use the resource-based theory for his or her advantage? 2. Explain the problems we would have if there was a “law of entrepreneurship.” 3. How does each of the four attributes of resources contribute to SCA?

Question: In terms of economics, why would American soybean producers care about the weather in South America?

Question 12 (i) Monica can go to work today and earn $500. However, she is also thinking about studying for the English test. If she studies for the English test she will not be able to go to work. What is Monica’s opportunity cost of studying for the English test? A: $0 B: $500 C: $500 minus the benefit from studying for the test D: The benefit of studying for the test minus $500 (ii) Which of the following is(are) considered as sunk cost for a competitive firm in the short-run? Variable cost Fixed cost A: 1 only B: 2 only C: Both 1 and 2 D: Neither 1 nor 2

QUESTION 4 Economics is a that studies how O physical science:; people make decisions: scarcity O social sciences: people make profit; scarcity O social science: people make decisions: scarcity O life science: people make decisions; unlimited wants and needs social science: people create new products: demand physical science: people sell products: unlimited resources products in light of the fact that always exist(s).

Slove questions 4-9 only, thank u! Economics can best be described as the study of how: to profitably invest one's income in stocks and bonds government policies affect businesses and labour to manage business enterprises for profit the allocation of scarce resources meets needs and wants 2.The notion of opportunity cost is best defined as: the monetary price of any productive resource the amount of labour that must be used to produce one unit of any product the monetary price of any product the utility that could have been gained by choosing an action's best alternative 3.Utility refers to the: opportunity cost of a product relative scarcity of a product value of a product satisfaction that a consumer derives from a good or service 4.Which of the following is a positive statement? The humidity is too high today. It is too hot to jog today. The temperature is 22oC. I enjoy summer evenings when it cools off. 5.The basic purpose of the ceteris paribus assumption…

QUESTION 30 According to Adam Smith, the success of market economies is primarily due to: A. The basic benevolence of society. B. Partnerships that are forged between business and government. C. Individuals' pursuit of self-interest. OD. Society's legal system.