Question 1-3

Under a competitive market, explain:

(1) What is market price?

(2) What will happen if the market price moves downward?

(3) What is CEPA and how it can benefit to the economy of Hong Kong?

Question 4

In lectures, we have learned that organizations and corporations have codes of conduct. As an employee of a corporation, it is understandable that if someone violates the code of conduct, there will be severe repercussions possibly including termination. Interestingly, in professional organizations where membership is voluntary, similar policies may still exist (i.e. violation of the code of conduct may result in expulsion from the professional organization). Briefly explain why a professional organization may have such a strict policy regarding their code of conduct? (10 marks)

Question 5

Current Covid-19 pandemic showed the cost of illness (number of people infected and symptomatic). What are the hidden costs of the Covid-19 pandemic and how can these costs be avoided or reduced?

Question 6

Provide THREE methodologies that how engineering design can achieve environmental and sustainable goals. Describe one relevant example for each methodology.