Scarce resources - Study guides, Class notes & Summaries

2 © OCR 2023 Section A Write your answer to each question in the box provided. 1 Buyers and sellers of a good on a website is an example of A a market B competition C specialisation D the secondary sector Your answer [1] 2 For most of 2021 the world supply of computer chips did not satisfy the demand for them. This is an example of A economies of scale B oligopoly collusion C scarce resources D unlimited wants Your answer [1] 3 Price elasticity of supply measures the A percent...

COM 312 Test 1 Questions and Answers 100% Correct COM 312 Test 1 Questions and Answers 100% Correct COM 312 Test 1 Questions and Answers 100% Correct conflict - ANSWER-an expressed struggle between at least two interdependent parties who perceive incompatible goals, scarce resources, and interference from others in achieving their goals. Intrapersonal conflict - ANSWER-internal strain that creates a state of ambivalence, conflicting internal dialogue, or lack of resolution in one'...

Well-structured EST1501 Assignment 4 (ANSWERS) 2023 ()- DISTINCTION GUARANTEED (DETAILED ANSWERS - DISTINCTION GUARANTEED!). Question 1: Language and Grammar 1.1 Identify and correct the errors in the sentences below. You will be graded for identifying the error and for fixing it. (10) 1.1.1 Mr. Nhlapo or Ms Baloyi bring the newspaper for the office. 1.1.2 Jonathan as well as Mpho is in Pretoria now. 1.1.3 When I knocked on her door. Chloe was already awake. 1.1.4 Henry can run more fast t...

market failure Correct Answer-a situation in which a market left on its own fails to allocate resources efficiently economics Correct Answer-the study of how society manages its scarce resources incentive Correct Answer-something that induces a person to act productivity Correct Answer-the quantity of goods and services produce from each unit of labor input opportunity cost Correct Answer-whatever must be given up to obtain some item externality Correct Answer-the impact of one pe...

Chapter 3 Multiple Choice 1. Identify the attribute that is not normally associated with the job of functional manager. a) The functional manager is usually a generalist in the area being managed. b) The functional manager is responsible for deciding what resources will be devoted to accomplishing the task. c) The functional manager is administratively responsible for deciding how something will be done. d) The functional manager is responsible for deciding who will do the work. Ans...

Exam Microeconomics, 17th Canadian Edition, 17e By Christopher Ragan (Test Bank Chapter 1 Economic Issues and Concepts 1.1 What Is Economics? 1) Which of the following statements provides the best definition of economics? A) The study of the most equitable distribution of scarce resources. B) The study of the use of scarce resources to satisfy unlimited human wants. C) The study of the production of goods and services. D) The study of the productive capacity of a nation's factors of...

Well-structured SUS1501 Assignment 8 PORTFOLIO (ANSWERS) Semester 2 2024 - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!)..... Introduction My aim in compiling this portfolio was to reflect on the things that have struck me throughout this crazy module. My starting point for doing this was to revisit my opinions to the multiple choice questions which were presented in the Crossroads assignment. I present these current opinions, together with my original opinions, an...

Integrating, unlike compromising, involves not a moderate level of concern for goals but a high level of concern for them. (Ans- true In marriages, avoidance of conflict relates to higher satisfaction in general. (Ans- false An individual's conflict style is developed early in life and remains static throughout her/his lifetime. (Ans- false One option for addressing destructive coalitions is to "soften them." (Ans- true According to your text, sometimes it is more appropriat...

Econ-102-PSU-Exam-1 (2023/2024) Already Passed Incentives rewards or penalties for engaging in a particular activity Economics The study of how people allocate their limited resources to satisfy their unlimited wants Resources things used to produce goods and services to satisfy people's wants Wants what people would buy if their incomes were unlimited Microeconomics the study of decision making undertaken by individuals and by firms Macroeconomics the study of the behavior of the economy ...

1 Microeconomics deals with: • the working of the entire economy or large sectors of it. Incorrect • economic growth. Incorrect • individual decision makers in the economy. (True Answer )Correct • gross domestic product. Incorrect 2 The study of a single firm and how it determines prices would fall under the study of: • macroeconomics. Incorrect • microeconomics. (True Answer )Correct • economic growth. Incorrect • fiscal policy. Incorrect 3 Macroeconomics deal...