Consider the following list of goods. For each good, explain the following point List of Goods: A cup of coffee at a coffee shop, Public Good, the private market should provide this good B City fire protection, Public Good, government should provide this good C Polar bears in the Arctic, Common Resource, this characteristics of the good would make it difficult to be provided by […]
Today he has an income of 400 kopecks. Bread now costs him 20 kopecks a loaf and potatoes cost him 25 kopecks a sack. Assuming his preferences haven’t changed (and the sizes of loaves and sacks haven’t changed), when was he better off? A. He was equally well off in the two periods. B. He is better off today. C. He was better off 20 […]
Microeconomics (from Greek prefix micro- meaning “small” and economics) is a branch of economics that studies the behavior of individuals and small impacting players in making decisions on the allocation of limited resources (see scarcity). [l] Typically, it applies to markets where goods or services are bought and sold. Microeconomics examines how these decisions and behaviors affect the supply and demand for goods and services, […]
Don’t change; Don’t change), (Decrease; Decrease) b) (Increase; Don’t change), (Don’t change; Decrease) c) (Decrease; Don’t change), (Don’t change; Decrease) d) (Increase; Decrease), (Decrease; Increase) SECTION B All questions in this section are worth the same number of marks. For each of the following questions: Consider the statements made by Alan Accountant and Edwina Economist. Say whether you believe each statement is correct or incorrect. […]
Casino is equal to all kinds of gambling properties or activities including horse- racing, dog-racing and cruise ships. Nowadays, there are about 6,224 casinos in the world. The most popular casino must be the one in Lass Vegas. Besides, Cathy H. C. Has points that gambling has existed in Asia for many centuries and gambling has become part of daily life in many Asian cultures […]
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