基本概念

Fanny can choose among three different jobs. Her choice of preference is as follows: First priority: being a teacher in School X Second priority: being a secretary in Company Y Third priority: being a sales representative in Firm Z

Assuming her choice of preference remains unchanged, which of the following will increase Fanny’s opportunity cost of being a teacher in School X?

The Housing Authority is considering whether it should raise the income limits of families for the application of public housing. What basic economic problem(s) is/are involved in this consideration?

‘Even though Japan is one of the richest economies in the world, it still has to face the problem of scarcity.’ The statement is

In a lottery, Peter wins a transferable air ticket to Japan. Which of the following statements is correct?

Mr. Lee owns a photographic studio. Previously he received $30 000 per month by letting it out. He now does not let the studio, but, instead he uses the premises for his own business. He also employs a model at $10 000 per month. What is Mr Lee’s opportunity cost of using the studio by himself?

In the New Territories, an indigenous female resident (女性原居民) cannot inherit her father’s property if her father dies without leaving a will. This is an example of resource allocation by

Mrs Wong retired last year. Since then she has been helping to do the housework in her daughter’s house and receiving no money in payment for it. The daughter works as an accountant in her own accounting firm. Which of the following statements is correct?

Mr. Wong could spend two hours at a concert or tutoring a student at $60 per hour. He could use the time on painting instead and earn a total of $150. If the price of the concert ticket is $300, what is the opportunity cost of his choice of going to the concert?

In Nathan Road one day, samples of a new brand of shampoo were given away free to passers-by. Within an hour, and available samples were gone. These free samples are ____________ because ____________.