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- Is the economic model of decision-making intended as a literal description of how individuals, firms, and the governments actually make decisions?What are three important themes in microeconomics1. How can we apply the core principles of scarcity, choice, opportunity cost and cost-benefit analysis to the decision-making processes? 2. Explain the difference between micro economics and macroeconomics. 3. Demonstrate an understanding of the coordinate system by using it to outline the relationship between economic variables.
- 7. “I will be the teacher, you be the student, okay?” Mabel asks her brother, Dipper. After playing for a while, Dipper becomes bored and starts making siren noises. Mabel tells him, “No! You aren’t supposed to be a fireman! You’re a student and I’m the teacher!” Considering Mead’s emergence of the self, what stage is Mabel likely in?* A. Preparatory Stage B. Play Stage C. Egocentric Stage D. Game Stage 8. Zero initially planned to go to Tagaytay tomorrow. However, he decided to postpone it since the weather today was a bit unstable and he thought it might just rain and may not enjoy his short break. This best illustrates which concept of Bandura?* A. Forethought B. Intentionality C. Self-reactiveness D. Self-reflectionGive an example of how scarcity of a product would have an impact on a microeconomic level. Please explain your rationale.1. Explain 4 ways in which human decisions making differs from the rational individual conventional economic theory
- Describe the definition of cost-benefit analysis.1. What makes a certain behavior unethical? * a.If it might cause harm to yourself. b.If it might cause too much happiness to others. c.If it might cause confusion to others. 2. A normative study of ethics, as is often done in philosophy or moral theology, engages the question: What could or should be considered as the right way of acting? Identify a good example that could illustrate what normative study of ethics is a .Ethics is based on the primitive practices of humans. b. Ethics is based on existing doctrines and tells us what is the prescribe human behaviors. c. Ethics is based on religious practices 3. What makes rule necessary for peace and order? * a.Rule forces people to comply with societal standards. b.Rule organizes moral development of the members of society. c. Rules guide people to do what they want and need to do. 4. Which of the following is a moral issue? a. A student finds naked painting offensive. b. A student confuse about his/her career. c. A student…"What is Economics?" Please respond to the following: 1. Identify a recent purchase that you made, recently, and determine how scarcity influenced your purchase decision. 2. Give an example of how scarcity of a product would have an impact on a microeconomic level. Please explain your rationale.
- What is the importance and benefits of microeconomics?2) This MCQ from MICROECONOMICS course.After reviewing major/relevant material in microeconomics, your group has begun brainstorming the possible topics that you would like to do. 1. Find two different dependent variables that you would like to explain and 2. Find at least three independent variables that can help you to explain. 3. What the possible economic theories/concepts/graphs that support your choice of the variables are. Note: this task pertains to microeconomics concepts.