1. Explain the following Economic terms with examples;
a) Economics b) Opportunity Cost c) Microeconomics d)Economies of Scale e) Comparative Advantage f) U-shape curve for women g) Marriage - Specific Investments h) Marginal Utility i)Risk Pooling j)Specialization (40points)
Answer any four questions out of six for 60points. No extra points for additional work.
2. Draw and explain the Circular flow Model discussed in class.
3. State and discuss at least five scenes from the movie" Guess who is coming to dinner" in relationship to Economics of Race and ender (state 5 different economic concepts for the five scenes)
4. Explain under what five economic conditions it would be rational for a woman who could earn more than her husband in the labor market to specialize in housework.
5. Explain five economic reasons why women have been so eager to increase their participation in the labor market, and why have men been so reluctant to increase their participation in house-work?
6. State and discuss at least five scenes from the movie" Freedom Writers" in relationship to Economics of Race and Gender (state 5 different economic concepts for the five scenes)
7. Explain how women's and men's roles in production changed between the colonial period and early industrialization.
Hunting and Gathering.