Question

1. Make classification on appropriate options. Labor Capital Land A musical Instrument used by a professional band The physical strength one develops through weight training Oil that needs to be extracted for the production of gasoline Statement Breast cancer is the fifth most common cause of cancer death For women aged 60 69, breast cancer screening significantly reduces breast cancer mortality. Doctors should encourage women aged 60 ton to be screened for breast cancer Oooo The government should force doctors to encourage women aged 0 to 8 to be screened for breast cancer Microeconomics Macroeconomics The government's decision on how much to spend on public projects The effect of a cigarette tax on the quantity of cigarettes sold A consumer's optimal choice when buying a flat-screen TV Definition A table in the relationship between the price a wing and able to purchase a s prio n d a pesare to purchasegen The amount of a good to be reward A cal o n at the recipe the price of good and mount the demanded of a good is when the The car that other things price of the goodies Indicate how each scenario in the following table will affect the current supply of personal computers. Scenario Increase Supply Decrease Supply A rise in wage rates An increase in the number of sellers of computers A tax placed on the production of computers A subsidy placed on the production of computers

Answer 1

A musical instrument used by a professional band. - Labor

The physical strength one develops through weight training. - Capital

Oil that needs to be extracted for the production of gasoline. - Land

Statement:-

Breast cancer is the fifth most common cause of cancer death. This is a positive statement.

For women aged 60 to 69, breast cancer screening significantly reduces breast cancer mortality. This is a positive statement.

Doctors should encourage women aged 60 to 69 to be screened for breast cancer. This is a normative statement.

The government should force doctors to encourage women aged 60 to 69 to be screened for breast cancer. This is a normative statement.

The governments decision on how much to spend on public projects - Macroeconomics

The effect of a cigarette tax on the quantity of cigarettes sold - Microeconomics

A consumer's optimal choice when buying a flat-screen TV - Microeconomics

A table showing the relationship between the price of a good and the amount that buyers are willing and able to purchase at various prices - Demand schedule

The amount of a good that buyers are willing and able to purchase at a given price - Quantity demanded   

A graphical representation of the relationship between the price of a good and the amount of the good that buyers are willing and able to purchase at various prices - Demand curve

The claim that, other things being equal, the quantity demanded of a good falls when the price of that good rises - Law of demand

Scenario:

A rise in the wage rates - Decrease supply

An increase in the number of sellers of computers - Increase supply

A tax placed on the production of computers - Decrease supply

A subsidy placed on the production of computers - Increase supply