1.In recent years, people in the United States have developed an appetite for healthier foods , such organically grown ones. As a result , much farmland around the world has shifted out of its usual way of farming and into growing organic foods. How did farmers in Kenya know to switch their crops?

Question 2. Kerry-ann used to work at a restaurant where she earned $50,000. per month. She borrowed from a bank and opened her own restaurant and worked there instead. Kerry-ann pays $10,000. a month for interest on the loan and made a monthly profit of $70,000. before interest is deducted. What is the monthly opportunity cost of Keryy-ann operating her restaurant?

Question3. Jacob's Pen has one source of water , a community tank up hill. On Monday , Jack and Jill were asked by their mother to go up the hill to fetch the water , which she gave them. On Wednesday , there was no water at home to cook dinner and Jack and Jill asked their mother for $100 each to fetch some water, but their mother refused. What is the incentive for jack and Jill to fetch water on Monday.

Question 4. The table shows the total output produced by different number of workers without changing any other inputs into production. At what number of workers does diminishing returns set in?

Workers	Output
20	10
25	25
30	45
40	90
45	105

Question 5. Which of the following concepts is closest in meaning to the economic notion of "real value?

a - Marginal Product

b - Purchasing Power

c- Nominal Value

d - Opportunity Cost

Answer rating: 100% (QA)

The farmers in Kenya know how to switch their crops as they understand demand and supply of farming ... View the full answer