Chisholm Year 7 Humanities - Questions by scott https://padlet.com/sbrechany1/2o211a2i2pl6 Develop three questions you have about content we have covered in Economics this term (You only need to have one post - number your questions 1-3). Ideally, the questions should help you revise for the upcoming assessment. en-us 2017-06-01 03:43:36 UTC 2023-10-21 18:35:00 UTC hello@padlet.com Harrison Alp alph22 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917079 1. Why do some firms want to break evan instead of making profit.
Answer: Sometimes they just want to get rid of stock and will be happy to break even. They sometimes think they will be able to make up for it on another item.

2. What is the difference in profit and revenue.

3. What are the different types of wants]]> 2017-06-02 03:15:28 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917079 Thomas Vajda vajdt22 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917081 1. What are collective services and the best way to define them.

2. What is the resource Capital from the acryinim CELL and how to define it?

3. What is and the best way to define Enterprise.]]> 2017-06-02 03:15:30 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917081 Rigel Pereira perer22 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917082 1. What is cost of production?
2. How do businesses determine a cost for there items?
3. What is revenue what is it used for?


 NOAH'S ANSWER: 1. cost of production is - HOW MUCH SOMETHING COSTS TO MAKE
Maybe this picture will help]]> 2017-06-02 03:15:31 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917082 Noah Passauer QUESTIONS Noah_12 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917083 1. What is the "enterprise" resourse - I still don't really understand what it means.

2. What is the opposite of profit?
Juan's answer to Q2- The opposite of profit is loss

3. how is enterprise considered as a resource? Is it something people have a limited amount ]]> 2017-06-02 03:15:31 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917083 Lauren Clark clarl22 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917086 1.  What are the different types of wants?
2. Is competition good for firms?
3.  What is the definition of opportunity cost?

Answer question 3: Opportunity cost is the real cost of the next best alternative that is sacrificed to get the other item]]> 2017-06-02 03:15:34 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917086 Mia Cukrov Mia_Cukrov https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917088 1: Why do cunsumer trends and preferences change so suddenly?

2: Is the Goverment effected by the economic problem? If so, how??

3: When producers are selling a product, how do the know how much consumers are willing to pay?]]> 2017-06-02 03:15:36 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917088 Dylan, Rooney QUESTIONS roond22 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917090 1: What resources does the land give us?

2: What types of resources do we need to make man made items?

3: What are all of the words too CELL?
Capital, Entrepreneur, Land, Labor

Noah: the e in cell is actually enterprise]]> 2017-06-02 03:15:36 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917090 Emma Garland garle22 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917091 1: How do producers get all the the recourses they need to produce their good or service when consumers trends change suddenly?

2: How do consumers decide where to go to satisfy their wants?

3: Do producers set budgets and are they ever in debt?]]> 2017-06-02 03:15:36 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917091 Lexie Frayne frayl22 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917095 1. What is revenue? 

2. What does cost of production mean? 
Answer: The cost of production is how much it cost to produce the good or service. Example if a pizza cost $5 to make the producers might sell it for $7 to get a $2 profit.

3. Why are consumers and producers interdependent?


]]> 2017-06-02 03:15:39 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917095 Sophie purtell purts22 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917099 1) why are wants limited but our resorses arnt 

Answer : we have unlimited wants because we just keep wanting new goods that producers ,produce, and resources are limited because for it takes time to make food 
 
2) what is revenue 

3) What is cost of production 
Answer: the amount of money it takes to make a good or service - harry alp]]> 2017-06-02 03:15:43 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917099 Jack Holtom holtj22 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917103 1. What is,the definition of revenue? 

2. Is it hard for producers to decide on a reasonable price for a new item that they are selling?

3. If you are making a profit, do the producers keep that money, or, do they use it to pay off wages, taxes and 
Q3 Caelum. They use it for supplies to make them better

Rigel Pereira Anwer Q1: 
income, especially when of an organization and of a substantial nature.




]]> 2017-06-02 03:15:45 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917103 Juan Selvan selvj22 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917106 1. Can competition between business also decrease profit?
2. How can enterprise be called a resource?
3. In what way is the government affected by the economic problem?]]> 2017-06-02 03:15:46 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917106 Sofia menas22 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917111 1)What is a simpler definition of revenue?
 2) what does braking even mean?
 Answer: breaking even means when a company sells an item without making a profit or losing money. They basically sell it for what it costs to make.
3)what happpens when producer]]> 2017-06-02 03:15:52 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917111 Erin Chia chiae22 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917113 1. Why are consumers and producers independent?

2. What is the difference between profit and revenue?

3. What is the factors affecting the price of goods and services?]]> 2017-06-02 03:15:52 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917113 Caelum perec22 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917119 1.what is opportunity cost?
Answer: the choice of the next best alternative due to the sacrifice of one of the choices. 
2.what is cost of production? Jack Holtom answer Q2:Cost of production is the starting price of an item, or how much something costs to make

3.what does revenue mean?]]> 2017-06-02 03:15:59 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917119 Elizabeth Blair blaie22 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917126 1) what is revenue?


2) why are our wants limited but resoreses not?

3)  what happened if producers dont have enough profit to be able to pay for resources

Juan's answer to Q1. Revenue is the total amount of money that producers or businesses receive before they pay for costs like Rent, etc.]]> 2017-06-02 03:16:01 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917126 Erika mache22 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917140 1.) what is the definition of cost of production and revenue 

2.) what are some examples for CELL

3.) what is the meaning of factors affecting the price of goods and services

Answer: Question 2]]> 2017-06-02 03:16:16 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917140 Tom Biju bijut22 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917143 1. Why does the factors affect the price of goods and services?

2. How does the economic problem relate to consumers and the government?

3. Why are consumers king and how do they help producers when the producer makes the product?
Answer: consumers are king because they influence what is produced, how much is produced and the price of items. They help producers make products because their preferences influence what is produced.]]> 2017-06-02 03:16:22 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917143 Emerson watte22 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917161 1.Why is the producers goal and why do they aim to make a profit rather than just making normal money like how regular people make their money?

Answer: profit is normal money. It is the amount of money they make extra after the cost of production when the itam has been made and sold.

2. What is Enterprise in the four factors of production?

3. How are and in what way are consumers and producers interdependent?]]> 2017-06-02 03:16:39 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917161 Jack Lilley (questions) lillw22 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917231 1. How does labour get put into the topic of economics?

2. How do producers know what has changed in trends and preferences?

3. How do producers know how much consumers are willing to pay?


DYLAN'S ANSWERE Q3: By looking at how much it costs and what materials are being used.]]> 2017-06-02 03:17:45 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917231 Keatyn Lim limk22 https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917861 1. What are four examples of types of wants?
Q1  Wants are goods or services that are not necessary but that we desire or wish for. For example, one needs clothes, but one may not need designer clothes.
2. 

]]> 2017-06-02 03:29:18 UTC https://padlet.com/sbrechany1/2o211a2i2pl6/wish/174917861