Reference no: EM131566766
Question: "Conduct an Evaluation on your local Public Health Department and make a tabular representation of the same. Consult any Health Care Evaluation Template over the internet and make your research and factual information detailed and credible.?"
Chapter-1:
1. What determines whether or not a resource is scarce? Why is the concept of scarcity important to the definition of economics?
2. Discuss the impact of rational self-interest on each of the following decisions.
a. Whether to attend college full time or enter the workforce full time
b. Whether to buy a new textbook or a used one
c. Whether to attend a local college or an out-of-town college
3. If behavior is governed by rational self-interest, why do people make charitable contributions of time and money?
4. The owner of a small pizzeria is deciding whether to increase the radius of delivery area by one mile. What considerations must be taken into account if such a decision is to increase profitability?
5. It is often costly to obtain the information necessary to make good decisions. Yet, your own interests can best be served by rationally weighing all options available to you. This requires informed decision making. Does this mean that making uninformed decisions is irrational? How do you determine how much information is the right amount?
6. Suppose I observe that communities with lots of doctors tend to have relatively high rates of illness. I conclude that doctors cause illness. What's wrong with this reasoning?
Chapter-2:
1. You can either spend spring break either working at home for $80 per day for five days or go to Florida for the week. If you stay home, your expenses will total about $100. If you go to Florida, the airfare, hotel, food and miscellaneous expenses will total about $700. What's your opportunity cost of going to Florida?
2. You have the following information concerning the production of wheat and cloth in the United States and the United Kingdom:
Labor Hours Required to Produce One Unit
United Kingdom United States
Wheat 2 1
Cloth 6 5
a. What is the opportunity cost of producing a unit of wheat in the United Kingdom? In the United States?
b. Which country has an absolute advantage in producing wheat? In producing cloth?
c. Which country has a comparative advantage in producing wheat? In producing cloth?
d. Which country should specialize in producing wheat? In producing cloth?
3. Provide some examples of specialized markets or retail outlets. What makes the Web so conducive to specialization?
4. Determine whether each of the following would cause the economy's PPF to shift inward, outward, or not at all:
a. An increase in average length of annual vacations
b. An increase in immigration
c. A decrease in the average retirement age
d. The migration of skilled workers to other countries
5. The United States is best described as having a "mixed" economy. What are some elements of command in the U.S. economy? What are some traditional elements?