Unit 1: Introduction to economics

Describe the information shown in Figure 2.

Describe the information shown in Figure 2.

Describe the information shown in Figure 2.

Using a production possibilities curve (PPC) diagram, explain how the production possibilities (potential output) of the DRC might be affected if there were greater access to electricity (paragraph [4]).

Using a production possibilities curve (PPC) diagram, explain how the production possibilities (potential output) of the DRC might be affected if there were greater access to electricity (paragraph [4]).

Using a production possibilities curve (PPC) diagram, explain how the production possibilities (potential output) of the DRC might be affected if there were greater access to electricity (paragraph [4]).

State one reason why the production possibility curve (frontier) for Country H might shift outwards.

State one reason why the production possibility curve (frontier) for Country H might shift outwards.

State one reason why the production possibility curve (frontier) for Country H might shift outwards.

Using a production possibilities curve (PPC) diagram, explain how the importing of “new technology and capital equipment” might affect Thailand’s production possibilities (paragraph [3]).

Using a production possibilities curve (PPC) diagram, explain how the importing of “new technology and capital equipment” might affect Thailand’s production possibilities (paragraph [3]).

Using a production possibilities curve (PPC) diagram, explain how the importing of “new technology and capital equipment” might affect Thailand’s production possibilities (paragraph [3]).

Define the term circular economy indicated in bold (Text C).

Define the term circular economy indicated in bold (Text C).

Define the term circular economy indicated in bold (Text C).

Assuming that 25 000 pencils are produced initially, identify the opportunity cost for Country H if the production of rice is to be increased by 100 %.

Assuming that 25 000 pencils are produced initially, identify the opportunity cost for Country H if the production of rice is to be increased by 100 %.

Assuming that 25 000 pencils are produced initially, identify the opportunity cost for Country H if the production of rice is to be increased by 100 %.

Sketch a production possibilities curve (PPC) diagram to show the effect of improved human capital on Malawi’s potential output (Text D, paragraph [2]).

Sketch a production possibilities curve (PPC) diagram to show the effect of improved human capital on Malawi’s potential output (Text D, paragraph [2]).

Sketch a production possibilities curve (PPC) diagram to show the effect of improved human capital on Malawi’s potential output (Text D, paragraph [2]).

Using a PPC diagram, explain the impact of the damage to the major buildings in Beirut on Lebanon’s productive capacity (Text D, paragraph [2]).

Using a PPC diagram, explain the impact of the damage to the major buildings in Beirut on Lebanon’s productive capacity (Text D, paragraph [2]).

Using a PPC diagram, explain the impact of the damage to the major buildings in Beirut on Lebanon’s productive capacity (Text D, paragraph [2]).