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ACTIVITY TO DO: ESSAY: Explain the question in five (5) sentences 1. Identify which of the following statements are examples of positive analysis or normative analysis? a. The Congress proposed a minimum wage for workers at NCR to be 600 and 500 for other regions. b. Medical benefits to the elderly under Medicare be available only to those with incomes below 10,000. c. A free of charge on vaccines for COVID19 as assistance to all 4P's recipient. 2. Stephanie is deciding whether or not to have another piece of cheesecake for lunch. Identify how Stephanie can use the principle of marginal analysis to decide whether or not to eat this piece of cheese cake. 3. Why is it that Economics is best identified as the study of how people, businesses, governments, and societies? 4. In your opinion, which economic interests are more important, those involving individuals or those involving society 5. Give an example of an economic choice that must be made by government from time to time. What factors do you think are involved in making such a choice?

ACTIVITY TO DO: ESSAY: Explain the question in five (5) sentences 1. Identify which of the following statements are examples of positive analysis or normative analysis? a. The Congress proposed a minimum wage for workers at NCR to be 600 and 500 for other regions. b. Medical benefits to the elderly under Medicare be available only to those with incomes below 10,000. c. A free of charge on vaccines for COVID19 as assistance to all 4P's recipient. 2. Stephanie is deciding whether or not to have another piece of cheesecake for lunch. Identify how Stephanie can use the principle of marginal analysis to decide whether or not to eat this piece of cheese cake. 3. Why is it that Economics is best identified as the study of how people, businesses, governments, and societies? 4. In your opinion, which economic interests are more important, those involving individuals or those involving society 5. Give an example of an economic choice that must be made by government from time to time. What factors do you think are involved in making such a choice?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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ACTIVITY TO DO: ESSAY: Explain the question in five (5) sentences 1. Identify which of the following statements are examples of positive analysis or normative analysis? a. The Congress proposed a minimum wage for workers at NCR to be 600 and 500 for other regions. b. Medical benefits to the elderly under Medicare be available only to those with incomes below 10,000. c. A free of charge on vaccines for COVID19 as assistance to all 4P's recipient. 2. Stephanie is deciding whether or not to have another piece of cheesecake for lunch. Identify how Stephanie can use the principle of marginal analysis to decide whether or not to eat this piece of cheese cake. 3. Why is it that Economics is best identified as the study of how people, businesses, governments, and societies? 4. In your opinion, which economic interests are more important, those involving individuals or those involving society 5. Give an example of an economic choice that must be made by government from time to time. What factors do you think are involved in making such a choice?
Transcribed Image Text:ACTIVITY TO DO: ESSAY: Explain the question in five (5) sentences 1. Identify which of the following statements are examples of positive analysis or normative analysis? a. The Congress proposed a minimum wage for workers at NCR to be 600 and 500 for other regions. b. Medical benefits to the elderly under Medicare be available only to those with incomes below 10,000. c. A free of charge on vaccines for COVID19 as assistance to all 4P's recipient. 2. Stephanie is deciding whether or not to have another piece of cheesecake for lunch. Identify how Stephanie can use the principle of marginal analysis to decide whether or not to eat this piece of cheese cake. 3. Why is it that Economics is best identified as the study of how people, businesses, governments, and societies? 4. In your opinion, which economic interests are more important, those involving individuals or those involving society 5. Give an example of an economic choice that must be made by government from time to time. What factors do you think are involved in making such a choice?
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