10. According to Philippine Statistics Authority (PSA) what is the minimum age that a Filipino must have in order to be classified as an unemployed person? A. 13 years old B. 14 years old C. 15 years old D. 18 years old 11. What kind of approach is used by economists to explain how the economy works? C. positive D. scientific A. Collaborative B. experimental 12. What are you experiencing when your wants are greater than your resources? A. Poverty B. Scarcity C. trade-off D. unemployment 13. What is the reason why we are studying economics? A. Poverty B. Scarcity C. trade-off D. unemployment 14. What type of analysis are economists concerned with in order to become objective? A. careful C. normative D. positive B. negative 15. Which major characteristic of economists enable them to make sound decisions in solving economic problems? A. objective B. prompt C. subjective D. trustworthy

10. According to Philippine Statistics Authority (PSA) what is the minimum age that a Filipino must have in order to be classified as an unemployed person? A. 13 years old B. 14 years old C. 15 years old D. 18 years old 11. What kind of approach is used by economists to explain how the economy works? C. positive D. scientific A. Collaborative B. experimental 12. What are you experiencing when your wants are greater than your resources? A. Poverty B. Scarcity C. trade-off D. unemployment 13. What is the reason why we are studying economics? A. Poverty B. Scarcity C. trade-off D. unemployment 14. What type of analysis are economists concerned with in order to become objective? A. careful C. normative D. positive B. negative 15. Which major characteristic of economists enable them to make sound decisions in solving economic problems? A. objective B. prompt C. subjective D. trustworthy

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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