Question

A. Describe and account for the four stages of change.

b. Assess the relationship between the basic economic concepts.

Answer 1

A. Denial is the first step where people denied any change and react with some shock so it's very tough to get into changes.

Resistance. When change is happening people are resisting it by anger and anxiety. They are suffering from not taking part in change with fear.

Nextstep is exploration. people join the change and take part into the the activity of changes. They learn new things and doing constructive work along the change.

Last one is commitment where people are normalised toward change. Work activity settle down with productivity and restructured system.

B. The basic economic concepts start vidhya problem of scarcity and unlimited want. They are connected on the efficiency term. The gain in efficiency will lead to optimise the scary sources and provide maximum utility like satisfaction. The basic premise every individual is rational and maximize his utility based on subjected to income or budget constant. Therefore market price will be reflected by the relative utility. The force of demand and supply will be drive based on the purchasing power that is income labour. So underlying connection is the structure of of income across the people which can influence the utility of each other and intervene to the budget of other person.