Production posilnies Puza (per hour) Soda (cases per hour) Possibility 100 00 60 35 in the above table, the production of 3 pizzas and 80 cases of soda is feasble but would involve unemployed or misalocated resources possible only there is infation. possitle only the economy produces with masimum efficiency. impossible uniess more resources become avalable or lechnology improves.
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- Meat (pounds) 120 A 90 D 60 В 30 Vegetables (pounds) 40 60 80 100 120 140 160 Point B is: O Infeasible Inconsistent Inconceivable O Inefficient 20Computers per year) 200 150 100 50 25 50 75 100 125 VCRs (per year) The fgure above illustrates a smal country's production possibites tronter Moving trom pont Cto pont the per unt opportunity cost of compulers s p conpuler OA 4VCRS OB. 1/4 of a VCR OC 45 of a VCR O0 computer OE 54 of a VCRProblem 3Suppose the following data reflect the production possibilities for providing healthcare and education:Units per YearHealth Care 400 370 330 270 190 100 0Education 0 20 40 50 60 70 80(a) Graph the production possibilities curve.(b) If maximum health care is provided, how much education will be provided?(c) What is the opportunity cost of increasing health care from 270 to 330 units?
- Figure 1 The production possibility frontier ABCDE is a production possibility frontier. It shows the different combinations of goods which can be produced if all resources are fully and efficiently utilised. The economy can produce at any point on the line. It cannot produce at G because the PPF shows the maximum that can be produced. It can produce within the PPF,05 such as at F, but less will be produced than the maximum possible. Non-manufactured goods 50 40 30 20 10 0 A 10 B Ti C 20 30 Manufactured goods G D E 4010- Skeletons 0 ● 5 10 15 Pumpkins Chart 1 ou 10- Skeletons OU 10 5 10 15 Pumpkins Chart 2 The Dark Points in Each Chart Represent Current Economic State. What is the Maximum amount of Pumpkins you could produce Skeletons 10 15 Pumpkins Chart 3 ACCES 15- 10 5- 0 Skeletons S 10 15 Pumpkins Chart 4 3 POINTS: Use the above information to answer the following questions. Which Chart shows a poimt a point that is not possible with current economic contraints to produce Pumpkins and Skeletons OA. Chart 3 OB. Chart 1 OC. Chart 2 O Chart 4t is a general belief in the United States that time is _____. an expenditure sufficeint flexible a commodity
- Area of original paper 3.1.1 Complete the table above. lal paper change as htandia fokcs oto dsfterent laalves? wa the or th glain your anawer Describe he kind of relationahip between the ares of the original paper and the aumber of folds. 3.1.3 4. Mr Majola owns a shop where he repairs household appliances. He woulid like to buy a cell phone so that he can contact his customers after their work is done. Two different cell phone providers forwarded quotes to him upon request. Cell phone provider SAVE MORE quoted R80 per month and R2,50 per minute. Cell phone provider CASH IN quoted R100,00 per month and R2,00 per minute. Look at the incomplete table below: Airtime in minutes: t 10 20 30 40 50 60 SAVE MORE'S cost in rands: CM 80 105 130 155 Ass 380530 CASH IN'S cost in rands: Ca 120 140 160 240 340 460 100 4.1 What does the table above show? 4.2 Write down the symbol which represents the independent variable. 4.3 Where does the value 80 in row 2 come from? 4.4 Explain the situation if…QUESTION 9 Any point inside the production possibilities curve indicates. O A. the presence of technological change O B. that resources are imperfectly substitutable among alternative C. the presence of inflationary O D. that more output could be produced with the available uses. pressures resourcesThe world in which we live is complex and to understand it, human beings make use of some orother simplification process. A theory can accordingly be seen as an attempt to simplify things.Such an observation may come as a surprise to those who have often heard remarks to the effectthat such and such a theory is difficult, or at the least terribly complicated. We should neverthelessremind ourselves that a theory involves an attempt to simplify things – it is the world out there thatis the complicated entity. A particular theory (or model) is merely trying to reduce it to manageableproportions, at least as far as understanding our environment is concerned.”In economics, theory is presented in a simple form by making the…1.23a) Post hoc assumptionb) Fallacy of compositionc) Ceteris paribus assumptiond) Blinkered approach
- ng Exchange 2021 ON1000- Principles of Economics 1| S1 21/22 Time left 0:34:02 The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base year is 2008. stion 18 yet vered Prices and Quantities ked out of Year Price of Cereal Quantity of Price of Milk Quantity of Cereal Milk Flag estion 2008 $4.00 90 $1.50 150 2009 $4.00 100 $2.00 180 In 2009, this country's Select one: a. real GDP was $660, and the GDP deflator was 115.2 b. real GDP was $670, and the GDP deflator was 115.2 C. real GDP was $670, and the GDP deflator was 113.4 d. real GDP was $660, and the GDP deflator was 113.4 Next page Previous pageThe expenses incurred on the variable factors are called O a. Fixed cost O b. Variable cost O . Scarcity O d. None of these Which of the following statement is related to Paul J Samuelson's definition on economics? O a. An economy is strong when there is more wealth available O b. The economy should choose different ways to grow in the future O c. Scarcity is the cause of problem of choice O d. The economy is trying to generate welfare for all the peopleWould an op-ed piece in a newspaper urging the adoption of a particular economic policy be a positive or normative statement?