The scarcity principle Study guides, Class notes & Summaries

Economics 101 Questions and Answers Already Passed economics the study of how people make choices under conditions of scarcity and of the results of those choices for society rational person someone with well-defined goals who tries to fulfill those goals as best as he or she can economic surplus the benefit of taking any action minus its cost opportunity cost the value of the next-best alternative that must be foregone in order to undertake the activity positive economics economic analysis ...

This document contains workings, explanations and solutions to the TMS3709 Assignment 2 (QUALITY ANSWERS) 2024. For assistance call or us on 0.6.8..8.1.2..0.9.3.4.... 1. Which teaching approach is encouraged during the Fourth Industrial Revolution? Give three (3) reasons for this. (4) 2. Which didactical principle is applicable when choosing a method for the teaching of Economics in the following examples? Just write down the name of the principle. 2.1 The teacher teaches the content of the cu...

An opinion of value - ANSWER The appraised value of a property is: assessed value - ANSWER the amount that your local government determines your property to be worth for tax purposes subject property - ANSWER The property that is being appraised. ad valorem - ANSWER according to value Principle of Conformity - ANSWER Maximum value is found when there is a reasonable degree of similarity or homogeneity USPAP (Uniform Standards of Professional Appraisal Practice) - ANSWER Standards ...

At a restaurant, a waiter gives you a free desert because "you are awesome," in the hopes that you might give a better tip. This is an example of which principle of influence? - Answer- Reciprocity An airline announced they would discontinue a flight that was no longer profitable. The very next day, bookings for that flight increased dramatically. This is an example of which principle of influence? - Answer- Scarcity A hotel is able to increase the number of customers who reuse towels by...

General Data - Is information about a property's location. This could include the city, region, and neighborhood in which the poperty uis situated. Specific Data - Is information regarding the property itself. Principle if Anticipation - The idea that the present value of a property is affected by the ANTICIPATED income or utility that property will give its property owner. Principle of Contribution - The idea that a property's overall value is made up of the combined value of each of...

At a restaurant, a waiter gives you a free desert because "you are awesome," in the hopes that you might give a better tip. This is an example of which principle of influence? - ANSWER Reciprocity An airline announced they would discontinue a flight that was no longer profitable. The very next day, bookings for that flight increased dramatically. This is an example of which principle of influence? - ANSWER Scarcity A hotel is able to increase the number of customers who reuse towel...

A - ANSWER-Which one of the following is NOT true of cultural or political beliefs in America. A. America's origins as a wilderness society led to the belief that government is responsible for providing material assistance to its citizens. B. Americans place a greater emphasis than Europeans on personal advancement through education. C. Never has an American majority expressed a willingness to entrust health insurance fully to the government. D. America has a strong individualistic culture/...

Texas Irrigator License Final Exam Questions and Answers Already Passed!!! 2024 A properly designed irrigation system can: a. save water, time, and money b. save installation time c. cost more d. last longer - CORRECT ANSWER-a. save water, time, and money Basic irrigation dates back: a. hundreds of years b. since Rain Bird was founded c. thousands of years d. seventy-five years - CORRECT ANSWER-c. thousands of years The impact sprinkler head was introduced by Rain Bird in: a. 193...

Land An immovable and indestructible three-dimensional area consisting of a portion of the earth's surface, the space above and below the surface, and everything growing on or permanently affixed to it. Five Attributes of Land "PUFFS" Permanent Unique Finite Supply Functional Stationary Four Value Characteristics of Land "DUST" Demand Utility Scarcity Transferability Raw Land is in its natural state, prior to grading, construction, and subdividing. It is UN...

The property tax is an ____ __________ tax, meaning it is based on value. - Answer- ad valorem The assessor is responsible for the _______, ________, and __________ of all taxable property. - Answer- discovery listing valuation The taxable location of personal property is referred to as its __________. - Answer- situs An estimate of value, usually in writing, of an adequately described property, as of a given date, is termed ___ ___________. - Answer- an appraisal A jurisdiction's...