Q19. Which category of scarce resources has the correct matching list?A. Land: whiteboard in a classroom, a barbershop owner, professor at a collegeB. Capital: mirror in a barbershop, ATM machine at a bank, a bank clerk, arable landC. Labor: professor at a college, nurse at a hospital, doctor at a hospital, mayor of a cityD. Entrepreneurship: a partner in a law firm, a stockholder, software at accounting firm

There are 4 types of resources that are used to make goods and services. These are, land, labor,…

Answered: Q19. Which category of scarce resources…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Which one of the following is not likely to occur in a mixed economy? a. Means of productions are partly owned by the state and partly private individuals b. Total control of the government in economic activities c. The element of a market and the command economy d. The existence of the private and the public sector in the economy
Which of the following is not a dilemma of social capital? A. Some groups can promote values that do not align with the majority’s view of a good society. B. Some associations allow only members of certain status. C. Groups allow people to bond and create communities. D. Some groups have very strong ties that can threaten the larger, collective good.
1. Distinguish between a command economy and a market economy. Give examples. 2. Discuss the characteristics of a market system. 3. Analyze a circular flow model showing the interaction among households, business firms, government, and the foreign sector.
Why combinations above the Production Possibility Curve are not attainable? a. It is due to unlimited resources b. It is due to inefficiency of government c. It is due to scarcity resources d. It is due to lack of technology
1.Explain what are economic systems? In your explanation, give indication regarding the role of an economic system 2. Discuss the nature of a Planned economic system? Your discussion should include:Ownership and Control of resources and Essential Decision making. 3. Give three (3) advantages and disadvantages of Planned Economies and Market economies. 4. Discuss the essential features of a mixed economy 5.Differentiate clearly between a Planned Economic System and a Free Market Economic System.
S1: Rapid population growth does not necessarily reflect market failure. S2: Urbanization and localized economies lead to resource immobility. A. True, True B. True, False C. False, True D. False, False
1. Explain the Malthusian trap using graphs. 2. Is technological progress enough to free an economy from the Malthusian trap? Use graphs to answer the question.
Question 1 a. Draw a production possibilities curve for a hypothetical economy producing capital goods and consumer goods Tlhustrate economic growth and 1use (A) to represent an inefficient b. Explain the law of increasing opportunity cost. c. Explain why scarcity forces individuals and society to incur opportunity costs. Give three (3) specific examples.
“For most of the last 15 years, capital has been cheap. Since 2009, the after-tax cost of borrowing for some large companies has been below the rate of inflation, making their debt in real terms cost-free. All that changed in March 2022, when the world’s central banks began raising rates to curb rising inflation.” The paragraph above is an example of: a. factors of production b. opportunity cost c. market failure d. externalities
Give typing answer with explanation and conclusion 20) Which of the following factors is part of the microenvironment? A) natural environment B) cultural shifts C) technological trends D) competitors E) political trends
TRUE or FALSE 11. A high fertility rate reduces the per capita income, be it the Gross National Income per Capita or the Gross Domestic Product per capita. 12. The natural environment can bring about an increase or decrease in the population growth rate. 13. Rapid population growth does not necessarily reflect market failure. 14. Urbanization and localized economies lead to resource immobility 15. The most relevant advantage of locating a firm in an Industrial District is knowledge spillover. 16. The K -12 Program added years to basic education but Philippines student learning still lags behind many East Asian countries. 17. Investment in human capital is beneficial in the short run but investment in physical capital is beneficial in the long run. 18. Centralized urbanization leads to underdeveloped peripheral economies. 19. Improving hard infrastructures rather than soft infrastructures is absolutely a…

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