WEEKLY
ASSIGNMENT 02
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Grade:
08
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Date:
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Due
on:
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Class:
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Index:
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Name:
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Exercise
01. Rearrange the following letters to
make meaningful economic terms.
01
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P
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A
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T
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I
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L
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A
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C
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02
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C
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E
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O
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O
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N
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S
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C
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I
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M
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03
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Y
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T
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I
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C
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R
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A
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C
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S
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04
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I
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N
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O
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T
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U
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P
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R
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D
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O
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C
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05
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T
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N
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O
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I
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P
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U
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M
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S
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O
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C
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N
|
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06
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L
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E
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A
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W
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H
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T
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07
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E
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C
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O
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N
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I
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M
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08
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E
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E
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E
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E
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R
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N
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R
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P
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R
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T
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N
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U
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09
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I
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C
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E
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O
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H
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C
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10
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R
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S
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R
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C
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S
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E
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O
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U
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E
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Exercise 02. Answer the following questions
1. Define the term 'Opportunity Cost’? Give
an example
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2.
Distinguish between Needs and Wants. Give examples
Needs
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Wants
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Definition
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Examples
1.
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2.
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3.
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Definition
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Examples
1.
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2.
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3.
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3. What is meant by Resources of an
Economy?
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4. Distinguish between Replaceable and
Non-replaceable resources?
Replaceable
Resources
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Non-replaceable
Resources
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Definition
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Example
…...…………………………………………
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Definition
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Example
…...…………………………………………
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5. Outline the definitions of ‘Economics’
as per different economists.
Adam Smith
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Alfred Marshall
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Lionel Robins
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