Economics Fundamentals

Economics is the branch of knowledge concerned with the production, consumption, and transfer of wealth.

The problem of scarcity arises because we have unlimited wants but limited resources.

The two branches of economics are microeconomics and macroeconomics.

<p>The equation of a linear relationship between x and y variables is y = a + bx, where a is the y-intercept and b is the slope of the line.</p> Signup and view all the answers

<p>A positive slope indicates that both x and y variables increase or decrease at the same time, resulting in an upward-sloping line.</p> Signup and view all the answers

<p>A negative slope indicates that the value of one variable increases while the other decreases, resulting in a downward-sloping line.</p> Signup and view all the answers

<p>The student will receive an 'F' grade with no exception.</p> Signup and view all the answers

<p>Students are allowed to carry pen, pencil, eraser, sharpener, ruler, highlighter, and calculator in a clear plastic bag.</p> Signup and view all the answers

<p>Writing on hand palms or any other body part and carrying paper materials with written content will be considered as cheating.</p> Signup and view all the answers

<p>The text states that students will be rewarded for working hard.</p> Signup and view all the answers