APPLIED ECONOMICS

26問 • 4ヶ月前

問題一覧

means that “resources are limited—there's enough of them to satisfy everyone's wants and not needs.

scarcity

is a systematic process used to evaluate the advantages (benefits) and disadvantages (costs) of a decision, project, or policy.

cost benefits analysis

is a systematic process used to evaluate the advantages (benefits) and disadvantages (costs) of a decision, project, or policy.

cost benefits analysis

The goal is to “determine whether the benefits outweigh the costs and by how much”

cost benefits analysis CBA

is an economic decision-making tool used to examine the additional benefits and additional costs of a small (marginal) change in an activity or production level.

marginal analysis

It focuses on incremental changes—what happens when you do one more unit of something.

marginal analysis

is a core principle of economics. It means that people respond to rewards and penalties—when the incentives change, behavior often changes too.

incentives matter

Encourage action (e.g., bonuses, discounts, promotions)

positive incentives

Discourage action (e.g., penalties, bad reviews).

negative incentives

When resources are allocated in When markets allocate a way that maximizes total resources poorly, leading welfare (no waste)

market efficiency

When markets allocate resources poorly leading to inefficiency

market failure

benefits everyone when conditions are ideal (perfect info, competition, etc.).

market efficiency

where real-world issues cause inefficiencies—and where regulation or corrective measures may be needed

market failure

is the “value of the next best alternative you give up when you make a choice”. It's not just about money—it's about what you're missing out on by choosing one option over another.

opportunity cost

making is the “process of making strategic business decisions based on analyzing and interpreting data rather than relying on intuition or assumptions” .

data driven decision making

means that different parts of a system rely on each other. In hospitality, one department’s performance often affects the success of others.

interdependency

is a holistic approach that views an organization as a complex, interconnected system rather than isolated parts. It focuses on how things influence each other over time.

systems thinking

In business and economics, time matters because:

time in decision making

means not knowing for sure what will happen,especially in the future

uncertainty in decision making

refers to “how useful or applicable a piece of information, research, or analysis is for shaping or influencing public policies, regulations, or decision-making at governmental or organizational levels”

policy relevance

is about how we allocate those limited resources.

choice

are tools used to analyze real-world issues, guide business decisions, and shape public policy.

principles of applied economics

explains how economies should work in a perfect world, applied economics focuses on solving practical problems using economic reasoning, data, and models

theoretical economics

must decide “what to produce and how.”

business

must choose “how to spend tax revenue” (e.g., on healthcare vs. education).

governments

must choose “how to spend time or ” money.

individual

exam

exam

Operational

Operational

marketing

marketing

fil

fil

MICE

MICE

TOUR GUIDING

TOUR GUIDING

cruise industry

cruise industry

TOURISM POLICY

TOURISM POLICY

science

science

FILIPINO

FILIPINO

marketing 2

marketing 2

anyo

anyo

問題一覧

means that “resources are limited—there's enough of them to satisfy everyone's wants and not needs.

scarcity

is a systematic process used to evaluate the advantages (benefits) and disadvantages (costs) of a decision, project, or policy.

cost benefits analysis

is a systematic process used to evaluate the advantages (benefits) and disadvantages (costs) of a decision, project, or policy.

cost benefits analysis

The goal is to “determine whether the benefits outweigh the costs and by how much”

cost benefits analysis CBA

is an economic decision-making tool used to examine the additional benefits and additional costs of a small (marginal) change in an activity or production level.

marginal analysis

It focuses on incremental changes—what happens when you do one more unit of something.

marginal analysis

is a core principle of economics. It means that people respond to rewards and penalties—when the incentives change, behavior often changes too.

incentives matter

Encourage action (e.g., bonuses, discounts, promotions)

positive incentives

Discourage action (e.g., penalties, bad reviews).

negative incentives

When resources are allocated in When markets allocate a way that maximizes total resources poorly, leading welfare (no waste)

market efficiency

When markets allocate resources poorly leading to inefficiency

market failure

benefits everyone when conditions are ideal (perfect info, competition, etc.).

market efficiency

where real-world issues cause inefficiencies—and where regulation or corrective measures may be needed

market failure

is the “value of the next best alternative you give up when you make a choice”. It's not just about money—it's about what you're missing out on by choosing one option over another.

opportunity cost

making is the “process of making strategic business decisions based on analyzing and interpreting data rather than relying on intuition or assumptions” .

data driven decision making

means that different parts of a system rely on each other. In hospitality, one department’s performance often affects the success of others.

interdependency

is a holistic approach that views an organization as a complex, interconnected system rather than isolated parts. It focuses on how things influence each other over time.

systems thinking

In business and economics, time matters because:

time in decision making

means not knowing for sure what will happen,especially in the future

uncertainty in decision making

policy relevance

is about how we allocate those limited resources.

choice

are tools used to analyze real-world issues, guide business decisions, and shape public policy.

principles of applied economics

explains how economies should work in a perfect world, applied economics focuses on solving practical problems using economic reasoning, data, and models

theoretical economics

must decide “what to produce and how.”

business

must choose “how to spend tax revenue” (e.g., on healthcare vs. education).

governments

must choose “how to spend time or ” money.

individual