Discuss the differences between the constant opportunity cost and the increasing opportunity cost in terms of Production Possibility Curve
Q1) Discuss the differences between the constant opportunity cost and the increasing opportunity cost in terms of Production Possibility Curve. ie.) the shapes of PPC and the main assumption behind these two.
Q2) Discuss the differences between macroeconomics and microeconomics.
Q3) Compare “Change in Demand ” with ” Change in Quantity demanded”
Q4) At what price does Shortage and Surplus occur ? Once a market has shortage and Surplus, then what happens to the market price?
Q5) Treasure Hunt: a) Go to www.cengage.com/sso. At Bookshelf of Arnold economics of 11th edition, click Course Mate of Economics(11th ed) by Roger A Arnold . Then, click “Working with Diagrams” under left menu bar at Ch3: supply and demand theory. Describe six(6) graphing workshops videos .
Q6) After watching “BBC video” of Ch 1, 2 3 , 4 and 5(all chapter content) under left bar at www.cengage.com/sso (Links to an external site.), analyze the content of one video by relating into economic theories.