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You are having lunch with several friends and discussing the link between homework and exam grades.Oliver says,"I know that doing homework improves exam grades because I always do my homework and I have a 4.0." Julia says,"I know that doing homework improves exam grades because a blog I read on an education website says so." Richard says,"I know that doing homework improves exam grades because that makes sense.Teachers would not assign it if it did not." Provide a response to each friend for why his or her reasoning is unsound.
Best Use
The most efficient or effective utilization of a resource or asset in order to achieve the desired result or maximum value.
Resources
Assets, materials, and inputs needed for the production of goods and services, including natural resources, human resources, and capital.
Economics
The social science concerned with how individuals, institutions, and society make optimal (best) choices under conditions of scarcity.
Scarce Resources
Resources that are limited in supply and cannot meet all the wants and needs of a society.
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