Discuss the central economic problem facing

Assignment Help Other Subject

Reference no: EM132837208

Case Study - Survivor Island

Question 1. Discuss the central economic problem facing this group of survivors.

Question 2. Make a list of the basic needs and wants of the survivors.

Question 3. Now put this list of needs and wants in order of importance and give reasons for prioritizing your needs. Use the following table to answer this question.

Needs and wants Reason for priority

Question 4. Study your answer to question 3 - how car you use the concept of "opportunity cost" to determine the importance of the order in which you will have to satisfy your needs and wants? Will you change the order of importance in questions 3 after you have looked at the concept of opportunity costs?

Question 5. Do you think that the order of importance of need. Make a list of the factors of production that will be available for the group members to build a shelter.

Question 6. A shelter for the survivors is a very important need. Make a list of the factors of production that will be available for the group members to build a shelter.

Question 7. Identify and explain the three basic economic questions (What? How? and for whom?) that the group of survivors will have to answer every day.

Question 8. Draw a diagram of the circular flow of the economy on this island. Briefly explain the working of the circular flow.

Attachment:- Case.rar

Reference no: EM132837208

Questions Cloud

Calculate your TDSR and your Debt-to-Payments Ratio : Calculate your TDSR and your Debt-to-Payments Ratio given the above-mentioned assumptions and including the car loan payment you just calculated

Calculate the value of equity after market capitalisation : Calculate the value of equity after market capitalisation. TechnoLink Berhad is currently an unlevered firm with a weighted average cost of capital

What is the carrying value of the note receivable : The prevailing rate of interest for a note of this January 2, 2020 was 10%. What is the carrying value of the note receivable as of December 31, 2022

Why is corporate finance important to all managers : Describe the organizational forms a company might have as it evolves from a startup to a major corporation. List the advantages and disadvantages of each form.

Discuss the central economic problem facing : Discuss the central economic problem facing this group of survivors - Do you think that the order of importance of need. Make a list of the factors

Prepare the journal entry to record issuance of the bonds : Venzuela Inc. is building a new hockey arena at a cost of $2.5 million. Prepare the journal entry to record the issuance of the bonds on January 1, 2010

What type of loan allows a borrower to maintain : What type of loan allows a borrower to maintain a compensating balance at the bank instead of putting up collateral? venture capital loan

Record the interest expense for the six months ended june : Record the interest expense for the six months ended June 30, 2020. $8,000,000 of 7% subordinated convertible debentures, interest payable semi-annually

What is the puc of the shares owned by d : D intends to purchase 20% of the shares owned by C for 600,000. After the purchase, what is the PUC of the shares owned by D?

User Account

All Pages