draw a graph to show a combination of two goods that are unattainable by an economy.
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15
Which one has CA in paper? Ben can read 1 page of a student paper per minute or type 50 words of lecture notes per minute, and Ann, can read 3 pages of a student paper per minute or type 60 words of lecture notes per minute.
ann
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eraser
Reset score!
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rocket
Go to first place!
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fairy
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25
baam
Lose 25 points!
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15
Please give a reason to explain why a ppc shifts inward.
fewer resources
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15
what are the four types of resources?
land, labour, capital, entrepreneur
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baam
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gift
Win 20 points!
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rocket
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banana
Go to last place!
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15
How to explain a constant opportunity cost?
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15
how will technology advance change a production possibility curve?
shift it outwards
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15
if the opportunity cost is constant, what is the shape of ppc. please draw a graph to show it.
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10
please explain the term scarcity.
limited resources and unlimited needs and wants
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thief
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25
gold
Win 50 points!
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shark
Other team loses 15 points!
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thief
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15
Name at least three features of a command economy.
public ownership of resources
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15
what kind of resource is not fully scarce?
basic knowledge
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15
If an economy choose more consumer goods and less capital goods. what does it mean?
more current consumption and less future consumption.
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15
Name at least three features associated with a market economy.
private resource ownership; buyers and sellers together decide resource allocation; price serves as the signal of resource allocation
