Give an example of a consumption good and an example of an
investment good. Explain why the two are different, as a
macroeconomist would think of them differently. Also, explain why
investment is important for the long term health of an economy.
1 What is a normal good? Give an example. What would happen to a
normal good if income increased for buyers? What is an inferior
good?
2. What is consumer surplus? What is producer surplus? Explain
in your own words what the terms mean and how they apply to
you.
Why should sunk costs be ignored for decision making? Give an
example of why it makes sense to ignore sunk costs and why it is
often difficult to do so.
Are spreadsheets a good tool for business analytics? Why or why
not?
Also, discuss the ways in which you have seen spreadsheets used,
and how you have used them. State whether the setting was personal
or business related. Remark as to whether you have used functions
or formulas in your spreadsheets.
What is an example of a situation in which cognitive appraisal
(interpreting a stressor as a negative threat or challenge to
overcome) influenced your experience of a stressful situation?