1. Greece exports $12.6 billion to other countries in mainly food and beverages, manufactured goods, petroleum products, chemicals, and textiles. It imports $31.4 billion in machinery, transportation equipment, fuels, and chemicals. What can be said about the balance of trade for the country of Greece?a. Unfavorable at -$44 billionb. Favorable at $18.8 billionc. Unfavorable at -$18.8 billiond. Unfavorable at -$18 billion2. A drilling platform located in the North Sea is primarily concerned with getting petroleum from beneath the sea floor. What type of resource is the petroleum as it is pumped into tankers that will transport it to an on-shore refinery?a. Naturalb. Humanc. Capitald. None of the above3. A freelance photographer borrows $2500 in order to purchase a new camera and equipment. What type of resource is the camera?a. Naturalb. Humanc. Capitald. None of the above

1 - c.Balance of trade is exports - imports. In this case, Greece is importing more than it exports (buying more than it is selling), and so it has a negative balance of trade.2 - a.The petroleum is being harvested from the Earth, and is unrefined in its immediate state, thus it is a natural resource.3 - c.The camera and equipment is a capital investment by the photographer. He is hoping that buy purchasing these investments, he will be able to better produce his product (his photos) and net a positive return on his investment.

1. C2. A3. C******************************

Economics will teach you how to improve your decision-making skills. It will tell you how to analyze every possible option, and make the best and most reasonable decision of whatever limitations that you have.

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Unfavorable at -$44 billionb. Favorable at $18.8 billionc. Unfavorable at -$18.8 billiond. Unfavorable at -$18 billion2. A drilling platform located in the North Sea is primarily concerned with getting petroleum from beneath the sea floor. What type of resource is the petroleum as it is pumped into tankers that will transport it to an on-shore refinery it is a natural resource.3 - c.The camera and equipment is a capital investment by the photographer. He is hoping that buy purchasing these investments, he will be able to better produce his product (his photos) and net a positive return on his investment.

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Perhaps you are right, but everything has two sides,so we should thinka about the good point

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When we speak of Applied Economics, the most important paradigm is not mathematics. Understanding can help you make better decisions, and, above all, to avoid the many pitfalls of private life and business. If you choose to study only one thing, the economy.

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Economic thinking is a comprehensive and highly interactive, technology-based curriculum that makes learning economics fun and easy.