Why is every country or business so concerned about Economics?
economics
Description
ASSIGNMENT ECONOMICS
101
1.
Why is every country or business so
concerned about Economics?
2.
Using Lionel Robins’ definition of
Economics, carefully explain logically how the scale of preference is derived.
You are required to use appropriate examples to support your explanation. [NB:
Your answer should not be more than a page]
3.
In what four ways do you think as a
student the study of Economics matters to you most?
4.
What do you think will be the basic
problem a taxi driver will like to address in order to maximise revenue on a
particular day?
5.
In a local certain local community, all
decisions about production and consumption are made by the council of leaders
of the Local Chief. Using your study of the scope of Economics, address the
following questions
6.
What three basic economic problems does
the council of leaders seek to solve?
7.
In not more than three sentences,
explain why the council of elders is so much interested in those problems
8.
The natives of this local community are
not happy with some of the decisions of the council of elders. Identify any
four reasons why the local people have misgivings about the decisions that the
council of elders make.
9.
On the contrary, there are some other
natives of the local community who are so satisfied with the work of the council
of elders and they are ever ready to put their lives down support the work of
the council. Identify any four reasons why this group of local people are so
satisfied with the work of the council of elders.
