1) Based on your knowledge, discuss 2 economic concepts that can be applied in family management process.

2) Give and explain 2 importance of family resource management

3) Using numerical example, explain the law of comparative advantage in the family as an economic unit.

4) Graphically, analyze the family choices in explaining why the indiferent curve;

a. Cannot be intersect each others

b. Downward sloping

c. Concave

5) Read the article and answer the following questions.

KUALA LUMPUR - When Malaysia went into a partial lockdown in March because of a sudden spike of coronavirus cases, single parent Naimah Sudaian was left out of job with zero savings to survive the coming months. With three children to raise, the 49- year-old was dumbfounded as to how she was going to afford rent and groceries after being laid off as a security guard that month. "I remember going home that day, crying. I have no savings to get me going and with my last pay cheque of RM1,200 (S$394), I carefully planned our expenses," Madam Naimah told The Straits Times. "We had to ration our food and survive mostly on crackers and instant noodles. Occasionally, we would have rice and eggs because that is the cheapest 'real meal' we can afford," she said. She was not alone in struggling to make ends meet during the movement control order (MCO) to curb the spread of the coronavirus. The research of United Nations agencies found that households with family heads earning below RM2,000 a month tend to spend more on eggs (52 per cent) and instant noodles (40 per cent), and less on protein and rice, compared with those earning above the bracket. When Malaysia first imposed movement curbs on March 18, it forced schools and non-essential businesses to temporarily shut down. People were confined to their homes except to buy food or essential items or to seek medical treatment. These controls were eased on May 4, allowing most businesses to reopen and people to travel for work. But despite life having returned to normal in most cases in Malaysia, the impact of the MCO has been damaging. According to the UN study titled "Families On The Edge", low-income households headed by women like widows and single mothers are among the worst affected, with higher rates of unemployment and a pessimistic outlook on prospects for recovery in the next six months. (Source: The Straits Times, Aug 25, 2020)

a. Based on the Naimah's case, explain the concept of resource in family.

b. Explain three (3) factors that might af ect the management process in Naimah's family in the situation of Covid-19.

c. Assume that Eric is Naimah's neighbor. There are six people in Eric's household, which is Eric, his wife, three daughters (range age are between seven to twelve years old), and his father:

• What kind of structure is Eric's family?
• Determine the stage of family life cycle for Eric's family.
• Based on your answer in (ii), why might parents have dif iculties during this stage of family life?
• Which types of family structure are most af ected during this pandemic of Covid-19. Justify your answer based on study finding by the UN, titled "Families on the edge"

6) Now, parent working from home is the 'new normal'. As school close and many workplaces turn to work from home, working parents have found themselves struggling to balance their roles as both full-time employees and full-time childcare, educators and doing many others housework. Discuss how the skills of family in managing their resource will help the working families in facing this 'new normal' situation. Give example to support your answer.(12 Marks)