Questions and Answers
What is economics?
Economics is the branch of knowledge concerned with the production, consumption, and transfer of wealth.
What is the problem of scarcity in economics?
The problem of scarcity arises because we have unlimited wants but limited resources.
What are the two branches of economics?
The two branches of economics are microeconomics and macroeconomics.
What is the equation of a linear relationship between x and y variables?
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What does a positive slope indicate in a linear relationship?
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What does a negative slope indicate in a linear relationship?
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What will happen if a student is caught cheating during the exam?
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What items are students allowed to carry during the exam?
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What actions will be considered as cheating during the exam?
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What does the text mention about working hard?
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