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Economics Scale of Preference Question

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Questions and Answers

What is the amount Enyonam's father gave her when she was leaving?

€150 (correct)
€100
€200
€50

If Enyonam's pocket money is increased to C300, what item will she buy according to the table?

Shirt
Pair of Sandals (correct)
Calculator
Economics Textbooks

What does the table list as the cost of a Calculator?

€150
€50
€200 (correct)
€100

If Enyonam decides to buy Toiletry and Economics Textbooks, what will be the opportunity cost of this decision?

<p>Calculator and Shirt (A)</p> Signup and view all the answers

What is the total cost of buying a Shirt and a Pair of Sandals?

<p>C200 (A)</p> Signup and view all the answers

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Study Notes

Enyonam's Scale of Preference

Enyonam, a student of Economics, has a scale of preference for various items with their corresponding amounts in Cedis (C)

Items and Their Prices

Ticket to Sandwich Course: C100
Toiletry: C50
Economics Textbooks: C150
Calculator: C200
Shirt: C100
Pair of Sandals: C50

Spending C150

With C150, Enyonam would buy Economics Textbooks

Opportunity Costs of Buying Economics Textbooks

Enyonam gives up the opportunity to buy a Shirt and a Pair of Sandals or Toiletry and a Ticket to Sandwich Course

Spending C300

With C300, Enyonam would buy Economics Textbooks (C150) and a Shirt (C100) and a Pair of Sandals (C50) or a Ticket to Sandwich Course (C100) and Toiletry (C50) and a Pair of Sandals (C50)

Opportunity Costs of Buying with C300

Enyonam gives up the opportunity to buy a Calculator (C200)

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