Question

In: Economics

The price of an ALFA re-charging fee card is relatively high” This is an example of:...

The price of an ALFA re-charging fee card is relatively high” This is an example of: *

5 points

Positive Economics

Normative Economics

A prediction

None of the above

Microeconomics is concerned with: *

5 points

The economy as a whole

The study of individual (single) economic behavior

The electronics industry

The interactions within the entire economy

The situation in which there is not enough of something to satisfy all the desires for that thing is called: *

5 points

Scarcity

Abundance

Demand

Plethora

The opportunity cost of a good is: *

5 points

The time lost in finding it

The quantity of other goods sacrificed to get another unit of that good

The loss of interest in using savings

The expenditure on the good

Dancing” is considered as: *

5 points

Land

Labor

Capital

Entrepreneurship

Solutions

Expert Solution

The price of an ALFA re-charging fee card is relatively high" this is an example of Normative economics.because normative statements derive from opinion, judgement and a point of view.where positive economic statement is objective and fact based.

Microeconomic is concerned with the Study of individual (single) economic behaviour, in making the decisions regarding the allocation of limited resources.

Scarcity is the situation in which there is not enough of something to satisfy all the desires for that thing, all conceivable human wants, even at advance states of human technology.

The opportunity cost of a good is the quanity of other goods sacrificed to get another unit of that good. Opportunity cost is when an option ia chosen from alternatives.

The expenditure on the good dancing" is considered as labour. It includes an artist's creation of a painting as well as the work of a pilot flying the airplane ahead.

Rahul Sunny answered 1 year ago

Next > < Previous

Related Solutions

The fee on a debit card overdraft can be as high or higher than the amount drawn out.

The fee on a debit card overdraft can be as high or higher than the amount drawn out. Instead of overdrawing their accounts, consumers would be much better off either not spending the money, using a credit card or paying cash. Typically, the people most likely to sign up for overdraft “protection” are those who can least afford it – they have maxed out their credit cards and used up any home equity. Is it ethical for a bank to...

Because of the relatively high interest rates, most consumers attempt to pay off their credit card...

Because of the relatively high interest rates, most consumers attempt to pay off their credit card bills promptly. However, this is not always possible. An analysis of the amount of interest paid monthly by a bank's Visa cardholders reveals that the amount is normally distributed with a mean of 30 dollars and a standard deviation of 9 dollars. A. What proportion of the bank's Visa cardholders pay more than 34 dollars in interest? B. What proportion of the bank's Visa...

Because of the relatively high interest rates, most consumers attempt to pay off their credit card...

Because of the relatively high interest rates, most consumers attempt to pay off their credit card bills promptly. However, this is not always possible. An analysis of the amount of interest paid monthly by a bank's Visa cardholders reveals that the amount is normally distributed with a mean of 28 dollars and a standard deviation of 9 dollars. A. What proportion of the bank's Visa cardholders pay more than 30 dollars in interest? Proportion = B. What proportion of the...

Because of the relatively high interest rates, most consumers attempt to pay off their credit card...

Because of the relatively high interest rates, most consumers attempt to pay off their credit card bills promptly. However, this is not always possible. An analysis of the amount of interest paid monthly by a bank's Visa cardholders reveals that the amount is normally distributed with a mean of 26 dollars and a standard deviation of 8 dollars. A. What proportion of the bank's Visa cardholders pay more than 29 dollars in interest? Proportion = B. What proportion of the...

Because of the relatively high interest rates, most consumers attempt to pay off their credit card...

Because of the relatively high interest rates, most consumers attempt to pay off their credit card bills promptly. However, this is not always possible. An analysis of the amount of interest paid monthly by a bank's Visa cardholders reveals that the amount is normally distributed with a mean of 30 dollars and a standard deviation of 7 dollars. A. What proportion of the bank's Visa cardholders pay more than 33 dollars in interest? Proportion = B. What proportion of the...

Because of the relatively high interest rates, most consumers attempt to pay off their credit card...

Because of the relatively high interest rates, most consumers attempt to pay off their credit card bills promptly. However, this is not always possible. An analysis of the amount of interest paid monthly by a bank's Visa cardholders reveals that the amount is normally distributed with a mean of 26 dollars and a standard deviation of 8 dollars. A. What proportion of the bank's Visa cardholders pay more than 28 dollars in interest? B. What proportion of the bank's Visa...

Because of the relatively high interest rates, most consumers attempt to pay off their credit card...

Because of the relatively high interest rates, most consumers attempt to pay off their credit card bills promptly. However, this is not always possible. An analysis of the amount of interest paid monthly by a bank’s Visa cardholders reveals that the amount is normally distributed with a mean of $27 and a standard deviation of $7. (a) What proportion of the bank’s Visa cardholders pay more than $30 in interest? (b) What proportion of the bank’s Visa cardholders pay more...

the bank is charging flat fee of 10 per car to park at rhe lot and...

the bank is charging flat fee of 10 per car to park at rhe lot and there are hunderd space and lot is open from 6 pm to midnivht every night and is staffed by a single employee the employee is pad 10 per hour .the bank has indiactaed that maintenance cost are insignificant . identify the marginal revenue and marginal cost for each additional care thats oays to use the banks parking lot and exolain why the bank is...

Party Town (PT) is holding a Halloween party and charging the guests an admission fee of...

Party Town (PT) is holding a Halloween party and charging the guests an admission fee of $20 per person. PT has rented a banquet hall for $500 and the hall will accommodate up to 100 people. PT has contracted with Cathy’s Catering to cater the party for $10 per person that attends (up to 100). The party will occur on October 30, 2016 and is the only event scheduled for the quarter from October 1, 2022 to December 31, 2022...

The managers of Roosevelt’s (a local yet upscale bar) are considering charging an admission fee on...

The managers of Roosevelt’s (a local yet upscale bar) are considering charging an admission fee on Thursday nights. They contemplate how to charge. Option 1. Use just a beverage charge per beverage ordered or Option 2. Use an admission charge (a fee to enter the establishment) and a beverage charge per beverage ordered. There are two types of people who frequent Roosevelt’s: Over 21 Students (S) and Over 21 Student Wannabees (W). Each Student has a demand for beverages of...

Subjects