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Acknowledgement for National Service Training Program 1 CWTS Narrative Report A narrative report for National Service Training Program 1 (CWTS) requires an acknowledgement for all those who helped in its completion. Acknowledging those who have helped in the completion of

Answer: National Service Training Program 1 CWTS: A Narrative Report Acknowledgement Acknowledging a narrative report for National Service Training Program 1 CWTS (Community Welfare Training Service) is an important part of the process for successfully completing the program. This acknowledgement

What are Factors of Production? Factors of production are the resources that are needed to produce goods and services. These resources can include land, labour, capital, and entrepreneurship. Each factor of production plays an important role in the production process;

Answer: Economics is the social science that analyzes the production, distribution and consumption of goods and services. Economics is a social science that studies how individuals, businesses, governments, and societies allocate their resources. It studies how resources are produced, distributed,

Answer: Equilibrium Equilibrium is the condition that exists when the amount of a good or service that is demanded is equal to the amount that is supplied. This occurs when the demand curve intersects the supply curve, and the price

Answer A movement along the demand curve to the left may be caused by a decrease in supply. This occurs when the quantity of a good supplied decreases at any given price. This shift in supply could be caused by

Answer DVDs and DVD players are complements, meaning when one goes up, the other goes up as well. An increase in the price of DVD players would cause the equilibrium price and quantity of DVDs to decrease. Explanation When the

Answer: Excess Supply in Unregulated Markets When there is an excess supply of a product in an unregulated market, the tendency is for the price to decrease. This is because the laws of supply and demand dictate that when there

Answer The correct answer is a. decrease, the quantity demanded will rise, and the quantity supplied will fall. When the market for tires is unregulated and characterized by excess supply, the price of tires will decrease as sellers attempt to

Answer: Equilibrium Price and Quantity in an Increase in Supply and Decrease in Demand for IPhone When the supply of IPhone increases and demand decreases, the equilibrium price will decrease and the equilibrium quantity will decrease. This is because the

Answer: Answer: The correct answer is d. increase in the supply of personal computers, a reduction in the price, and an increase in the demand. This is because improvements in technology will lead to an increase in the supply of

Answer: The correct answer is b, the demand for pizza will increase and the price of pizza will increase. When the price of a key input, in this case mozzarella cheese, increases, the production cost of pizza also increases. This

Answer: Equilibrium Equilibrium is the condition of a market when the quantity of a good or service that is demanded by consumers is equal to the quantity that is supplied by producers. This is also known as market balance. The

Answer: Equilibrium Price and Quantity in the Market for Video Games The market for video games is a normal good, meaning that the demand for goods increases as the income of buyers increases. In this case, the equilibrium price and

My Strength in Disaster Risk Reduction and Management (DRRM) My strength in Disaster Risk Reduction and Management (DRRM) lies in the response and rescue aspect of the thematic area. Response and rescue focuses on immediate actions taken after a disaster

Emergency Situations & Natural Disasters in Mountainous Areas Living in a mountainous area can be a beautiful experience, but it can also bring about a variety of emergency situations and natural disasters. These can include severe weather, landslides, rock falls,

Personal Advocacy on Environmental Protection and Management for NSTP Students As a student trainee of the National Service Training Program (NSTP), my personal advocacy for environmental protection and management is to promote responsible stewardship of our planet’s resources through sustainable

An Overview of Why Knowing Laws and Policies Is Essential for NSTP Student-Trainees It is essential for NSTP student-trainees to know the laws and policies pertaining to the conservation and development of our forests, as it gives them a comprehensive

Answer: Nature is Beautiful and Wonderful The saying ‘Nature is beautiful and wonderful, and we are stewards of God’s creation’ is an expression of appreciation and respect for the natural world. As stewards, we have a responsibility to care for

Ours is a Finite Earth: An Overview The phrase “Ours is a finite Earth” refers to the idea that the resources and environment of our planet are limited and will eventually be depleted if they are not managed properly. It

What Does ‘Everything Must Go Somewhere’ Mean? The phrase ‘Everything must go somewhere’ is a reminder that nothing in our world is truly expendable or disposable. All matter and energy must go somewhere, and when we throw things away, they

Answer: Everything is Connected to Everything Else The saying “Everything is connected to everything else” is a reminder that the world is an interconnected system of all living things and objects. This means that changes in one area can have

Answer: All Forms of Life are Important The saying “all forms of life are important” is a reminder that each and every living thing, from humans to animals to insects to plants, plays a vital role in the functioning of

All Forms of Life Are Important: A Summary All forms of life are important and should be respected and valued. All living things have the right to exist and thrive, regardless of their size, shape, or environment. Every species, from

What is Nature Knows Best? Nature knows best is a phrase used to express the idea that in nature, the best approach to any problem is to follow the natural order of things. This philosophy is based on the idea

The Importance of Citizen Cooperation in Achieving National Security The safety and well-being of a nation’s citizens is the primary concern of governments. In order to ensure national security, governments must make use of all available resources, including the cooperation

Answer Summary Conflicts can be settled without the use of aggression by utilizing peaceful methods such as negotiation, mediation, arbitration, and other nonviolent approaches. All of these methods have proven to be effective tools in resolving disputes without the need

Answer: Common Challenges Faced by Families and Countries Alike Families and countries have a lot in common when it comes to the challenges they face. Both must manage resources, take care of their people, and strive for growth and development.

Answer OPEC is an example of a cartel. A cartel is an organization formed by a group of producers of a good or service to regulate supply in order to manipulate prices in their favor. Definition of a Cartel A

Answer: What is a Monopsony Market? A monopsony market is a market where there is only one buyer of a good or service. The single buyer has significant power over the price of the goods or services, as there is

Answer: Which Products Will Show Increased Total Revenue After a 10% Price Increase? The price elasticity of demand coefficient measures the responsiveness of quantity demanded to a change in price. If the coefficient is greater than 1, the demand is

Similarity between a Nation and a Family A nation and a family share many similarities, from their core values to their need for love and support. Both require a sense of unity and collaboration to ensure the well-being of everyone

Maintaining Peace and Order Peace and order are maintained by the government through various strategies, tools, and policies, both domestically and internationally. Domestically, the government enforces laws and regulations, provides security, and punishes criminals. Internationally, the government works with other

What is the meaning of saying “A good fence makes good neighbors”? The saying “A good fence makes good neighbors” is a proverb that refers to the importance of having good boundaries between people. It suggests that having clear boundaries

Answer: The Infant-Industry Argument The infant-industry argument suggests that countries should protect their young industries from competition from foreign imports in order to give them a chance to grow. This argument is popular in countries with developing industries, such as

Answer: An Additional Advantage of Quota Over Tariff The statement “an additional advantage of quota over tariff is that the benefits are shared between domestic producers and the government” is true. A quota is a limit on the amount of

Answer: Why is it difficult for colluding firms to maintain a cartel? A cartel is a group of independent firms that agree to cooperate, usually by fixing prices, in order to increase their collective profits. However, it is difficult for

Answer: What effect does a lump-sum profit tax have on a monopolist? The effect of a lump-sum profit tax on a monopolist is that it causes the price to increase and the output to decrease. This occurs because the tax

Answer: Externalities Externalities are the positive or negative effects of an economic action on a third party not directly involved in the action. Externalities can be either positive or negative. An example of a positive externality is the H1n1 flu

Answer The statement is positive and correct. Economics deals with the study of how societies use their resources to produce and distribute goods and services. It aims to understand how scarce resources are used efficiently and effectively to meet the