Description
Case One
Case 1
Course
Economics for busness
Academic Staff
Dr.Abdullatef Saber
Section
Section (MBA)
Due`s Date
Before the midterm exam
College
Busniss collage
Student Name
ID
1st: Knowledge
Task number
Mark
CLOs
PLOs
Task
Total
Mark
10
10
S2.1
S1
General instructions:
– Minimum word count is 500 words.
– This page must be attached as the cover page.
– APA referencing method must be used in this homework (2Marks).
– The Homework must be submitted in a PDF format.
– Any submission after the midterm exam date will result in two
grades reduction.
Jeddah International College
1
First Task:
1-Under what circumstances could measuring opportunity costs prevent you from
making a rational decision?
2- In what ways do you think the prices of goods are related to the law of
increasing opportunity cost?
3- In the year before a new edition of a text is published, many college
bookstores will not buy the older edition. Given this fact, what do you think
happens to the gap between enrollments and new plus used book sales in the year
before a new edition of a text is expected?
4-When demand and supply curves shift simultaneously, what would be the
factors that determine the magnitude of the changes in equilibrium price and
quantity?
5-In what ways can governments reduce the severity of the leftward shift of the
supply curve during emergency situations? When would price gouging be
considered good within the economics perspective? Should it be legalized? Why
or why not?
*State your opinion about each of these statements (2 marks each)
Jeddah International College
2
Case 1
Course
Economics for busness
Academic Staff
Dr.Abdullatef Saber
Section
Section (MBA)
Due`s Date
Before the midterm exam
College
Busniss collage
Student Name
ID
1st: Knowledge
Task number
Mark
CLOs
PLOs
Task
Total
Mark
10
10
S2.1
S1
General instructions:
– Minimum word count is 500 words.
– This page must be attached as the cover page.
– APA referencing method must be used in this homework (2Marks).
– The Homework must be submitted in a PDF format.
– Any submission after the midterm exam date will result in two
grades reduction.
Jeddah International College
1
First Task:
1-Under what circumstances could measuring opportunity costs prevent you from
making a rational decision?
2- In what ways do you think the prices of goods are related to the law of
increasing opportunity cost?
3- In the year before a new edition of a text is published, many college
bookstores will not buy the older edition. Given this fact, what do you think
happens to the gap between enrollments and new plus used book sales in the year
before a new edition of a text is expected?
4-When demand and supply curves shift simultaneously, what would be the
factors that determine the magnitude of the changes in equilibrium price and
quantity?
5-In what ways can governments reduce the severity of the leftward shift of the
supply curve during emergency situations? When would price gouging be
considered good within the economics perspective? Should it be legalized? Why
or why not?
*State your opinion about each of these statements (2 marks each)
Jeddah International College
2
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