## Answers

1. Scarcity is a situation in which

d. People cannot satisfy all their wants.

2. Sue can produce, 80 caps or, 4 Jackets

1 cap = 0.05 jackets

3 Tessa opportunity cost

40 caps = 4 jackets

1 cap = 0.1 jacket

4. Surplus is that scenario when the Quantity supplied is greater than the quantity demanded.

The equilibrium price is less than the market price.

Option B.

5. Firms are on the **demand** side of the input and **supply** side of the output.

8. Slope of the two points are

The equation of the line is

One of the points is (3,2)

Thus the equation is

Option C is correct.

Please contact if having any query will be obliged to you for your generous support. Your help mean a lot to me, please help. Thank you.

__3 - 2 = 5 _ 9 m 1 5

y = mx + b

Y = X+b

2 E x3 + b

b = 2 + سنت | ان

1 +

.
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