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A.Here are two news headlines.Find in these headlines examples of the what,how,and

By March 4, 2022No Comments

A.Here are two news headlines.Find in these headlines examples of the what,how,andfor whom questions.Each headline may consist of more than 1 economic question.A1)“A good education is the right of every child'”A2)“With more research,we will cure cancer'”.B.Opportunity cost:B1)Suppose you are attending a lecture in a lecture theatre and it is now the break time.You arethirsty,you want to buy a can of coke from the vending machine next to the lecture theatre,which costs $10.What is your opportunity cost of buying the can of coke?(Hints:Always define and explain the economic concept before applying it)Answer:The opportunity cost of buying a can of coke isS10.?2510eachIs this an acceptable answer for the above questions?Is this answer the best explanation to illustrate theconcept of opportunity cost in Economics?B2)Suppose you are attending a lecture in a lecture theatre and it is now the break time.You arethirsty,you want to buy a can of coke or a box of lemon tea from the vending machine next tothe lecture theatre,which both cost $10.What is your opportunity cost of buying a can ofcoke?B3*)You are a student of Associate Degree in Accounting Program.Your classmates plan to go toSydney for two weeks in coming summer.For each person,the round-trip airfares are $6,000and the hotel expenses are $12,000.You are thinking whether you will go with them.Themost you are willing to pay for the trip is $20,000.At the same time,you can choose to join atwo-week summer internship program offered by a top marketing international company inHong Kong for the same time period.However,no remuneration will be given.What are themoney cost and time cost of taking this Sydney trip?Will you take this Sydney trip?How do youmake your rational choice?

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