PLEASE ANSWER THE FOLLOWING QUESTIONS: NEED ASAP

1. suppose there is an economic model that is designed to examine the demand for apartments in Edmonton, which is influenced by the buyers' income. When examining the relationship between the buyers income and the number of apartments bought, these two variables (Quantity of apartments and income) are _________ variables. The Interest Rate, the economic condition in Edmonton, the condo fees are _____________ variable.

(CAN MAKE A DIAGRAM )

2. What are the three components that make the economy a complete whole system?

3. Identify whether each of the following events in this scenario occurs in the factor market or the product market, also, identify if it relates to money or real flow.

EVENT	FACTOR MARKET	Goods and services (Product)MKT	Money Flow	Real Flow
Mark spends $3000 to recruit an accountant for his small accounting firm.
Hussein earns $3500/month working as a music teacher.
Lexi spends $15 at the movie theatre
UBC is hiring 10 new professors

4. suppose a production possibilities curve is a downward-slopping straight line. What does this indicate?

5. Give your own examples of Normative and Positive statements.