–Section 1, p. 11, #5
The owner of
the computer repair shop would first of all, need the land for the shop,
and also resources used to produce the tools and spare parts. Also, the owner
would need to employ people for labor to run the shop and help. He or
she would also need capital, or the actual tools and parts that are
required to repair computers. Lastly, the owner should probably develop good entrepreneurship
to run a successful and profitable business.
–Section 2, p. 17, #3
I would
spend time doing homework. This is to keep up my grades and learn the material
taught in class. The opportunity cost is that perhaps I would have lost time
that could have been used for leisure and rest. Also, basketball practices
entail opportunity costs such as loss of time for homework and study.
–Section 3, p. 23, # 3
The PPC
takes into account the limited resources and the number of goods and services
that can be produced given a certain amount of efficiency.
–Section 4, p. 31, #7
Politicians
often cannot produce full credible and reliable statements and promises, so
they express what they want to see happen, not necessarily what actually
happens.
No comments:
Post a Comment