Explain below economics concepts Only From articles or news events just 3 to 5 concepts no more than, give references mandatory these articles must be published after 5th January 2021 academic articles that do not even mention economics, but you can recognize economics. Give article reference and website link

List of concepts that you can find articles to explain: Discuss any two or 3 following concepts with references to articles.

1) Principle 1: People face tradeoffs

2) Principle 2: Opportunity Cost: The cost of something is what you give up to get it

3) Principle 3: Rational people think at the margin

4) Principle 4: People respond to incentives 5) Principle S: Trade (or Specialization) can make everyone better off

6) Principle 6: Markets are usually a good way to organize economic activity

7) Principle 7: Governments can sometimes improve market outcomes 8) The production possibilities frontiery

9) Absolute advantage

10) Comparative advantage 11) Demand curve: a change in the price of the good itself

12) Demand curve: a change in income: normal good 13) Demand curve: a change in income: inferior good

14) Demand curve: a change in the prices of related goods: substitutes

15) Demand curve: a change in the price of related goods: complements

16) Demand curve a change in the number of buyers 17) Demand curve: a change in tastes and preferences.

18) Demand curve: a change in buyers' expectations

19) Supply curve: a change in the price of the good itself

20) Supply curve: a change in input prices 21) Supply curve: a change in technology

22) Supply curve: a change in sellers' expectations 23) Supply curve: a change in the number of sellers

24) A market equilibrium

25) A market surplus 26) A market shortage

27) The price elasticity of demand 28) The price elasticity of supply

29) The income elasticity of demand

30) The cross-price elasticity of demand

33) A price ceiling 32) A price floor

33) A tax on buyers and/or sellers

34) Consumer surplus

35) Producer surplus 36) The benevolent social planner and total surplus

37) Efficiency-allocating resources to maximize total surplus 38) Equality-allocating resources uniformly

39) Market failure

40) An externality (either positive or negative) and the attempt to resolve it

41) Chapter 13 Table 3: Two of the many types of costs 42) Profit maximization in a competitive firm

43) Sunk cost 44) Monopoly

45) Price discrimination

46) Oligopoly,

Part A - The Wildcat Magazine prepares annual financial statements. The December 31, 2016 and December 31, 2017, trial balances contained the following account information: Dec 31, 2016 Dec 31,2017 Supplies $2,500 $3,300 interest Receivable 0 800 Salaries Payable 8,000 6,500 Unearned Revenue 45,000 56,300 The following information is also known: a) The 2017 income statement reports $12,000 in supplies expense. b) Wildcat Magazine loaned money to a supplier on November 15*, 2017 at a 10% annual interest rate. The loan must be repaid with interest on March 15', 2018. c) $112,000 was paid to employees for wages during 2017. d) Wildcat received $178,200 from customers for annual subscriptions during 2017. Required: 1. What was the cost of supplies purchased during 2017? 2. How much money was loaned to the supplier on November 1\"", 2017? 3. What was the total amount of salaries expense reported on the 2017 income statement? 4. How much subscription revenue was recognized (recorded) in 2017? BACK Multiple Choice Question 60 values are: On January 1, 2017, Bramble Corp. Issued eight-year bonds with a face value of $5680000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 12%. Table Present value of 1 for B perlods at 10% 10.467 Present value of 1 for A periods at 1254 09404 Present value of 1 for to periods at 5%% Present value of 1 for 16 periods at 6" 0.394 Present value of annuity for 8 periods at 19%% 5.325 Present value of annuity for B periods at 12% Present value of annuity for 16 periods at 5% 10.838 Present value of annuity for 18 periods at saw The present value of the principal in $2356120. Click if you would like to Show Work for this question; Coen Show Work 36Moving to another question will save this response. Question 17 of 20 Question 17 1 points Save Anow In projects all values are considered in today's terms - called the present value (PV). The Present value is calculated by using the following formula: PV - Cn / [1 + 1)0 where On " future value of the investment n years hence and i = discounting rate. A project requires an expenditure of $100 000 now and will yield $200 000 in 6 years. Assume a 10 per cent discount rate, Calculate the Net Present Value on a piece of paper, provide the answer you calculated and state whether the project should be supported. T ArialQuestion 4 Information: Classify each of the following items as either income statement or balance sheet and indicate if the normal account balance is a debit or a credit balance. _ Marks Available: 14 Income Statement (IS) or Debit (DR) or Credit (CR) Balance Sheet (BS) Regular Balance? Accounts Payable Accounts Receivable Accumulated Amortization Allowance For Doubtful Accounts Amortization Expense Bad Debt Expense Cash Note Payable Note Receivable Operating Expense Other Assets Prepaid Expenses Property, Plant and Equipment Revenues * Question Completion Status: QUESTION 4 The Positivist School says human behavior is Oa. rational Ob. caused Oc. learned Od. a social contract QUESTION 5 In the social contract we exchange liberty for a. freedom/justice Ob. peace/security Oc. rationality/behavior Od. control/punishment QUESTION 6 Humans are rational hedonists, the seek out the greatest at the least Oa. freedom/justice ()b. crime/punishment Oc. benefit/cost ()d. choice/control QUESTION 7 The person we most associate the Positivist School wth is Oa. Lombroso Ob. Marx ()c. Malinowski ()d. Beccaria