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Answer Questions 2 and 3 by referring to the following information: Max Department Store has launched a promotion campaign. For every purchase of $1000, customers are given a coupon to exchange for the following gifts:
| Number of Coupons | Gifts |
|---|---|
| 10 | 1 camera |
| 20 | 1 TV set |
| 30 | 1 air ticket |
John has accumulated 30 coupons. What is the opportunity cost to John if he uses them to exchange for one air ticket?
Answer Questions 2 and 3 by referring to the following information: Max Department Store has launched a promotion campaign. For every purchase of $1000, customers are given a coupon to exchange for the following gifts:
| Number of Coupons | Gifts |
|---|---|
| 10 | 1 camera |
| 20 | 1 TV set |
| 30 | 1 air ticket |
Later, John finds that he has to queue up to exchange his coupons for gifts. The queue shows that
Which of the following statements about market economy is correct?
Read the following advertisement
HOTEL ABC FREE BUFFET DINNER Buy two buffet dinners and get one free! (From Monday to Thursday) $200 for one person $400 for two persons plus a friend
The free buffet dinner is
Before the sale of a big residential estate, many elderly people queued up outside the site office for potential buyers. This implies that
John lives in his own apartment which is worth $1 million. He can sell the apartment and put the money in a bank at an interest rate of 5% per year. He can also rent out the apartment at $5 000 a month. What is the opportunity cost if he decides to live in the apartment?
Hong Kong can be described as a capitalist economy because
Which of the following is NOT true about a free good?
It was reported that many people queued for two days in order to get the monthly parking ticket for a certain car park. This phenomenon implies
To a society, used paper for recycling is ____________ because ____________.