Question

Answer all of them, please

1. Identifying types of resources Each item described in the table falls into the resource category of labor, capital, or land. In the following table, choose the correct type of resource illustrated by each example Labor Capital Land A truck used by a delivery service company The ability to multitask, which is enhanced through college and internships A field used for crops, such as corn or wheat

Answer 1

1)

	Labor	capital	land
Truck		•
Ability	•
Field			•

2) scarcity, generates for a rationing device

3) option B)

if Diana completes task , she has to forego 120 $, opportunity cost of doing task

If Charles, then give up = 15*6 = 90 $

So Charles has lower opportunity cost

6) this is known as ceteris peribus

mcq : option A & B

then other things are kept constant

7) positive economics is based on facts

While normative economics prescribes the solution

	Positive	normative
Breast cancer	•
For women	•
Doctors		•
Govt		•

8)

	Micro	macro
Effect of internet	•
Large govt budget deficit		•
Effect of regulation	•