which kind of ppc is that?
decreasing
which kind of ppc is that?
increasing
which kind of ppc is that?
constant
Mirzog'olib can create a program which has cost of $120. customers want to buy it for twice price of it's real cost. Instead of creating he preparing for competition. What is the opportunity cost?
$240(If Mirzog'olib's team choose that question additional 20 points )
give definition for microeconomy!
the part of economics concerned with single factors and the effects of individual decisions.
What is Scarcity?
our wants are unlimited and sources are limited
When is a ppc linear?
When the opportunity costs is constant
give definition for ceteris-paribus
all other things remain equal
What is our last topic?
Supply curve
Shahzodbek's teacher gave him homework. He should make a logo. Shahzodbek can make logo which has very beautifull and unique which has cost $36 in three hours. But he laze about that and make simple logo in one hour which has cost $9. opp?
$12(We can discuss that in class)(Shahzodbek choose -> 20points as bonus if answer is correct)
what is demand?(15 points for full answer)
Demand is an economic concept that relates to a consumer's desire to purchase goods and services and willingness to pay a specific price for them.
what is the fundamental economic problem?
Scarcity
draw a demand and supply curve
drawing
The PPC is ______ when the factors of production are not equally productive for both goods.
curved
Monica could instead have practiced her violin or done her French homework. Her opportunity cost of practicing her violin
the grade for her French homework
All the points which remain inside the line of the ppc are...
inefficient
The PPC is a graph that shows the maximum level of _______ that can be reached with a given amount of productive _______ and ________.
Output, resources, technology
Give definition for supply
a person, especially a schoolteacher, acting as a temporary substitute for another. (joke)(if you give this definition also you can get additional 15 points)
demand curve and supply curve are in... ?
equilibrium
According to the law of demand as price increases what happens to demand?
decreases