OPPORTUNITY COST A Heavy rain caused floods in an area of a country What may be an opportunity cost of repairing the damage caused A the allocation of government funds to the area instead of on a new airport B the cost of providing shelter for those made homeless the decline in the tourist industry in the area D the loss of profits from businesses affected by the flood D Helium is a gas that is limited in supply It takes thousands of years to form from decaying radioactive rocks The US government holds 35 of the world's supply and has been selling its stocks Helium is essential in medical scanners It is also used for party balloons which some say is a wasteful alternative use of a valuable good Which concepts can be applied to the above statement A demand and supply, government subsidy excess demand, resource allocation C factors of production, private monopoly QUHUE D opportunity cost, public sector C The diagram shows the choices for an individual between leisure and earnings 18 15 12 hours of leisure X per day 10 20 30 40 50 earnings $ What is the opportunity cost to the individual of the extra earnings when moving from position X to position Y A $10 B $40 C 3 hours of leisure per day D 9 hours of leisure per day 0455 Economics Paper 1 www smartexamresources comA The diagram shows the choices for an individual between leisure and earnings 24 20 16 hours of leisure 12 per day 20 40 60 80 100 120 earnings $ The person decides to take a job that gives more leisure time What is the opportunity cost to the individual of moving from position Y to position X $20 B 580 4 hours of leisure per day D 12 hours of leisure per day C The diagram shows the choices for an individual between leisure and earnings 18 15 12 hours of leisure 9 per day Y S 10 20 30 40 50 eamings $ What is the opportunity cost to the individual of the extra earnings when moving from position X to position Y A $10 B $40 C 3 hours of leisure per day D 6 hours of leisure per day 0455 Economics Paper 1 www smartexamresources com 2

Question

OPPORTUNITY COST A Heavy rain caused floods in an area of a country  What may be an opportunity cost of repairing the damage caused  A the allocation of government funds to the area instead of on a new airport B the cost of providing shelter for those made homeless the decline in the tourist industry in the area D the loss of profits from businesses affected by the flood D Helium is a gas that is limited in supply  It takes thousands of years to form from decaying radioactive rocks  The US government holds 35   of the world's supply and has been selling its stocks  Helium is essential in medical scanners  It is also used for party balloons which some say is a wasteful alternative use of a valuable good  Which concepts can be applied to the above statement  A demand and supply, government subsidy excess demand, resource allocation C factors of production, private monopoly QUHUE D opportunity cost, public sector C The diagram shows the choices for an individual between leisure and earnings  18  15  12  hours of leisure X per day 10 20 30 40 50 earnings $ What is the opportunity cost to the individual of the extra earnings when moving from position X to position Y  A $10 B $40 C 3 hours of leisure per day D 9 hours of leisure per day 0455  Economics  Paper  1 www smartexamresources  comA The diagram shows the choices for an individual between leisure and earnings  24 20  16  hours of leisure 12  per day 20 40 60 80 100 120 earnings $ The person decides to take a job that gives more leisure time  What is the opportunity cost to the individual of moving from position Y to position X  $20 B 580 4 hours of leisure per day D 12 hours of leisure per day C The diagram shows the choices for an individual between leisure and earnings  18  15  12  hours of leisure 9  per day Y S 10 20 30 40 50 eamings $ What is the opportunity cost to the individual of the extra earnings when moving from position X to position Y  A $10 B $40 C 3 hours of leisure per day D 6 hours of leisure per day 0455  Economics  Paper  1 www smartexamresources  com 2

Accepted Answer

The Answer is in the image, click to view ...

Question

OPPORTUNITY COST A Heavy rain caused floods in an area of a country. What may be an opportunity cost of repairing the damage caused? A

Step by Step Solution

Step: 1

Get Instant Access to Expert-Tailored Solutions

Step: 2

Step: 3

Ace Your Homework with AI

Recommended Textbook for

Ecopolitical Homelessness Defining Place In An Unsettled World

Students also viewed these Economics questions

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question