1, If a community college decided to build an academic building, then the money
ID: 388487 • Letter: 1
Question
1, If a community college decided to build an academic building, then the money and resources would not be available for a parking garage. This is an example of:
a- operational cost,B- productions, c- optimization,d- operational cost
2. One of the benefits of labor specialization is that:
a- labor and specialization establishes different citiesas industrial hubs b-workers who specialize in certain tasks often learn to produce more slowely with lower quiality
c- it allows workers to focus on a particular job and focus on the parts of the production process in which they have an advantage
d-specialized workers are more productive when producing a combination of things with which they are good at and some of which they are not
3.The field of economics that looks at the economy as a whole and focuses on broad issues such as growth, unemployment, inflation, and trade balance is:
a- macroeconomics b-microeconomics c- mixed economics d-global economics
4.When economists talk about supply, they are referring to a relationship between the price in a market and the:
a- equiillibrium quantity b- government policies c- amount that buyer wishes to purchase d-amount that producers collectively make available for sale
Explanation / Answer
c- optimization is the term which can be used in this case. As the community college would be optimizing the money and resources as per the priority that would be building an academic building. Parking garage is also required but it can be built later when money and resources get available. d-specialized workers are more productive when producing a combination of things with which they are good at and some of which they are not is one of the benefits of labor specialization. a- macroeconomics is the field of economics that looks at the economy as a whole and focuses on broad issues such as growth, unemployment, inflation, and trade balance. a- equilibrium quantity, which is a scenario when the quantity demanded is equal to the quantity supplied at the equilibrium.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.