Leader Name &
Members Name &
Company Name and
Person to contact
Date & Time for
Tan Zhi Wen (0167506051)
Ong Lye Lay
Example Basic Market Survey Questionnaire
1. Are you:
2. What is your age?
65 or over
3. What is the highest level of formal education you have completed? (Please check only one.)
Attended High School
THE ECONOMIC PROBLEM: SCARCITY &
THE LAW OF SCARCITY
economic problem scarcity
arises because people have unlimited wants but
resources are limited. Because of scarcity,
various economic decisions must be made to
Definition of Economics
More than just about money
The transformation of inputs into outputs by firms in
order to earn profit (or meet some other objective)
The act of using goods and se
What Is Perfect Competition?
Perfect competition is a market in which
Many firms sell identical products to many buyers.
There are no restrictions to entry into the industry.
Established firms have no advantages over new o