Jing Is Devising a Questionnaire to Explore Whether Maternal Stress

question 194

Multiple Choice

Jing is devising a questionnaire to explore whether maternal stress will affect a fetus. Which of the following would be a legitimate question to include?

• A) "How old is the father?"
• B) "How many children does the mother already have?"
• C) "Did this woman experience stress during the first trimester?"
• D) "Does this woman have a husband?"

Distinguish between the concepts of income effect and substitution effect.

Understand the supply curve and its relationship with price and quantity supplied.

Identify factors that cause shifts in the supply curve.

Describe the concept of market equilibrium and understand how market forces lead to changes in prices and quantities.

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Definitions:

Efficient

Refers to the optimal use of resources to achieve the desired outcome with minimal waste or effort.

MSB = MSC

A condition in economics where the marginal social benefit of production is equal to its marginal social cost, considered an optimal point of resource allocation.

Network Externality

The increase in the value of a good or service to an individual is greater when a large number of others own or use the same good or service.

Positive Externality

A beneficial effect experienced by a third party due to an economic activity, without compensation.