1. According to the World Health Organisation, cancer is one of the top killer diseases in Malaysia. Suppose that the Minister of Health is deciding whether or not to increase the research allocation for cancer research. As economic advisor to the Minister, what important factors should you take into account when advising him? Explain why. (Hint: Apply at least one of the concepts you have learnt from the ten principles of Economics).
2. According to the Forbes list of billionaires, Tan Sri Robert Kuok is the richest man in Malaysia and a prominent figure in Asia. Do you think billionaires like Robert Kuok face scarcity? Justify your answer with appropriate examples.