Xavier Year 7 Humanities - Questions by scott https://padlet.com/sbrechany1/4h2v60zgsdav 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 2017-06-02 02:53:12 UTC 2017-06-02 04:30:34 UTC hello@padlet.com Darcy West westd22 https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920071 What is opportunity cost 

ANSWER: Opportunity cost is the thing you missed out on from choosing the other thing. Example: I have the choice of eating chips or chocolate if I eat the chips than I miss out on sweat. There for I have to make a choice.
From Elijah.

How do firms 


]]> 2017-06-02 04:11:31 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920071 Bella C https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920089 Q1- What does revenue mean?
ANSWER: Revenue is how much money you make.
Q2- What is opportunity cost?
ANSWER: The real cost of the next best alternative sacrificed. Lots of examples
Q3- What is the difference between a Desire and a Demand?
ANSWER: 
Can you please add examples🙏🏻]]> 2017-06-02 04:11:52 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920089 Lara D delil22 https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920094 ❓1• How many factors are there that affect the cost of something?❓
 Please give some examples! 😃
➰Answer➰some factors that affect the price of something is , demand from customers. Trends & Preferences>

❓2• What is a collective service?❓
(This has been on my mind ever since... Um... We started economics)
➰Answer➰

❓3• How exactly are consumers and producers interdependent? ( If you provide 2 examples, you get a star⭐️)❓

]]> 2017-06-02 04:12:00 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920094 Toby Marshall marst22 https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920095 1. What causes the change of a price to a good or service and why?

2. Why do people import products from overseas, when they can just make a cheaper product and customise it to meet their satisfaction ?

3. Why do we have to pay tax when we did all the work to make that money? If we didn't pay tax, then the government woudlnt bee able to make roads, so the consumers can't get to your business in the first place! And we wouldn't have Parks,]]> 2017-06-02 04:12:01 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920095 Sam Bourguignon bours22 https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920100 Q1) how do firms keep up with the latest trends?
A1)
Q2) How do new firms get their products?
A2)
Q3) why is there more than just one currency
A3)

]]> 2017-06-02 04:12:07 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920100 Elijah Scaturro https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920101 1. What is a collective service?

2.If a producer is also a consumer then who is KING?!

3.]]> 2017-06-02 04:12:07 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920101 Sinead Rego https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920105 1. How does supply and demand affect the price of a good or service?

2. What is a collective service?
A collective service is a service
Provided by the general goverment
3. When determining the price a business decides to charge, what will they consider?]]> 2017-06-02 04:12:12 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920105 Josh D https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920112 1.What is Interest Rate?

2.What is Freelance 

3. What is an Entrepreneur


Answer2: Self employed and hired to work for different companies

ANSWER 1: The amount of interest you get from the bank]]> 2017-06-02 04:12:20 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920112 Emily R robee22 https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920116 1.  What is opportunity cost?
ANSWER: Opportunity cost is when you chose between two things. For example go out with friends or do homework. You have to deal with the consequences.

2. What happens when the entrepenaur of a business doesn't care about the business
ANSWER:The business will die and make no money at all.

3. ]]> 2017-06-02 04:12:27 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920116 Taj lomax lomat22 https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920123 1. How does the government get to decide how much they should take for tax?


Answer: ]]> 2017-06-02 04:12:33 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920123 Benton Miller milleb22 https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920139 1: how does opportunity cost affect how businesses run 




2:what is the economic problem 
ANSWER:the economic problem is that we have unlimited wants but limited reacorses




3:what is a solution to the economic problem ]]> 2017-06-02 04:12:48 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920139 Sarah S https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920149 1. What is collective services?
ANSWER: A collective service is a service provided by the government that benefits the community as a whole.

2. What is gross profit?
ANSWER the profit before you have through the tax process

3. Does competition benefit producers]]> 2017-06-02 04:12:54 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920149 Harry D dunlh22 https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920150 1. What does enterprise mean?
ANSWER:
Enterprise is managing the three other types of resources. For example, a principal or a boss.

2. What is opportunity cost

Answer: Opportunity cost is when you have to make a decision about something. Chips or apples. You have to desal with the consequences.

3.]]> 2017-06-02 04:12:54 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920150 Ella Quinn quine22 https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920152
1. Define opportunity cost or provide an example to show your understanding?
Answer:

2. What are three types of resources ?
Answer:

3.  Why have McDonald's changed to a healthier menu?
Answer:



]]> 2017-06-02 04:12:55 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920152 Honey Matson matsh22 https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920155 1.what is the definition of enterprise?
Answer: The skill of combining the three other factors. (CELL

2.what is the definition of opportunity cost?
Answer:

3. What do consumers have a limited amount of
Answer:


]]> 2017-06-02 04:12:57 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920155 Zoee C https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920162 1. What is a capital resource ? Buildings and cars, which are all man made things

2. Can someone please expulsions and a]]> 2017-06-02 04:13:06 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920162 Maisy M-G https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920163 Q1- When determining the appropriate price to charge, buisnesses will consider? 
ANSWER= Businesses need to take into account their revenue and how much desired profit they would like to make
-What consumers are 

Q2- Whats one of the biggest challenges for buisness? 
ANSWER=

Q3- What is the difference between revenue and profit? 

]]> 2017-06-02 04:13:07 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920163 Molly lavery https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920164 1. What is the opportunity cost?
ANSWER - the opportunity cost is simply thinking of the next best alterative for example ... Going out with friends or staying home and doing your homework.

2.How do you woke out the revenue?
ANSWER:you dont work out revenue, it means the amount of money you get from selling a product.

3. What is a collective service? ]]> 2017-06-02 04:13:07 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920164 Elke Ruane ElkeR https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920170 1) How important is it to have Enterprise in relation to CELL?
Can a firm run without someone managing enterprise?

2) How has online shopping affected producers?

3) How do celebrities and social media affect consumers' tastes and preferences]]> 2017-06-02 04:13:13 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920170 Alyssa S salia22 https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920227 1. What is the difference between profit and revenue?
ANSWER:


2. What happens if some consumers want one thing, but other consumers want something else?
ANSWER:


3. How often do producers change the price?
ANSWER:]]> 2017-06-02 04:14:11 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920227 Mr Brechany sbrechany1 https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920273 Use these themes to help you create your questions;

  • Profit/Revenue
  • Goods and Services
  • Economic Problem – relate to consumers and the government
  • Four types of resources – define/examples
  • Type of wants
  • Opportunity cost – relate to consumers and the government
  • Consumer is king
  • Consumers/Producers interdependent
  • Price and Demand
  • Factors affecting the price of goods and services -
  • The impact of competition
  • Supply and Demand

]]> 2017-06-02 04:14:59 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920273 Jacob A https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920279 1. What is a collective service?
ANSWER:A collective service is a service that is wanted by a collective of people.

2. Why does the cost of production change over time?
ANSWER: I t

3. How does the stock market change the prices of products?
ANSWER:]]> 2017-06-02 04:15:01 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920279 Carlos E escoc22 https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920545 Q1. What is opportunity cost.
Answer:

Q2. What do consumers have a limited amount of.
Answer:

Q3. What is the appropriate price to pay, what do businesses need to consider.
Answer:

]]> 2017-06-02 04:20:01 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920545 escoc22 https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920556 2017-06-02 04:20:08 UTC https://padlet.com/sbrechany1/4h2v60zgsdav/wish/174920556