Answer the flowing questions

 

 

 

Note: to answer these questions it is less than five lines and not more than ten lines.

 

  • What is meaning of the demand?
  • What is different between capital goods and consumer goods?
  • What are the properties of a production possibilities curve (PPC)?
  • Define and calculate the price elasticity of demand?
  • What is the Scarcity?

 

 

 

Promising the transfer of the following statements and then complete the blanks with a line down the answer.

 

  • Economics is the the study of ………. societies use ……. resources to produce valuable commodities and ……. those commodities among various people.
  • Factors of production are …….. , …….. , ……. , ……. and ……. .
  • The Supply is a ……. or …….. That relates the various quantities of an item that a buyer is willing and able to purchase at any given time to alternative prices.
  • Economists use the concept of ………. to describe, to analyze, and to make predictions about the behavior of producers in a market.
  • determines of demand are :
    • -……………..
    • …………..
    • ……………
    • ………………..
    • ……………..
  • Elasticity of Demand means: Degree a ………. or ……… the demanded quantities for any ……… from demand’s determinants.

 

 
   

 

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Move the following figure and Use it to answer the following questions.

  • The above figure illustrate………………………………. …….………………………………………………………
  • The improvement in the technology of economic cars production, it shall shift the ……… curve to ……….. curve to outward only on the economic cars axel
  • The figure illustrates the increasing in the resources used to produce both luxury cars and economic cars, it shall shifts the …… curve to …….. Curve to outward on both axels.

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  • The increasing in the ………….. Used to produce both luxury cars and economic cars, it shall shifts the PPC1 curve to PPC2 curve to outward on both axels.
  • In the above figure, the opportunity cost for Luxury Cars when we move from A1 to D1 is
  1. 20 Units of Economy Cars.
  2. 10 Units of Economy Cars.
  3. 30 Units of Economy Cars.
  4. 20 million pounds of Economy Car.