MICROECONOMICS Check your understanding 1. Provide an example from each of the category of resources.

2. What type of resources are the following: A. Time spent attending classes B. Water C. Building D. Doctor

3. You make P90,000 per year with your online selling business. However, you are offered a job with a monthly salary of P8,500 per month. Consider the situations indicated below if these are elements of opportunity cost of the new job offer. Answer with YES or NO and explain your answer. A. the increased in time you will spend in commuting to your new job._____ B. The P90,000 income you earn from online selling.________ C. The possibility that you will get infected with COVID 19 especially with the Delta and Omicron Variants. _________