1. Explain why the entrepreneur is considered the most important factorof production in Economics.

2. National parksnot only bear the important responsibility of protecting key eco-environments and landscapes but also must meet the needs of public sightseeing and recreation.

You were hired by the government to decide whether a national park in your country should be accessible to tourists or not.

Discuss what will youconsiderwhen conducting acost-benefit analysis.

.3Using your own example, explain the differencebetween private benefits, external benefits and social benefits

4. Describe what role technology can play in the supply of each factor of production.

5. Explain how the price mechanism is relatedto achieving allocative efficiency within a marketeconomy.

6. a?What is the opportunity cost involved in moving from point D to A?

B?What is the opportunity cost involved in moving from point B to A?