Discuss the key microeconomic concepts of scarcity, opportunity cost, comparative advantage, and externalities (LO 2) – Analyse the factors of production and t

General requirements – PLEASE READ THEM CAREFULLY  

–  All answered must be submitted on WORD FORMAT only and typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted).
– Cover Page is mandatory.

– Cite at least five reputable sources to support your arguments and claims.

– Use proper citation formatting.

– Use proper referencing (APA style) to reference, other styles will not be accepted.

– Support your submission with course material concepts, principles, and theories from the textbook and at least two scholarly, peer-reviewed journal articles unless the assignment calls for more.

– Should be approximately 1000-1200 words in length.

Outcomes to be Covered: –

– Apply supply and demand model to determine market equilibrium. (LO 5)

– Discuss the key microeconomic concepts of scarcity, opportunity cost, comparative advantage, and externalities (LO 2)

– Analyse the factors of production and their respective economic returns (LO 4)

Reference Source: 

Textbook and other files will be shared through google drive after agreement.

Best regards,