Answer to Question #124232 in Economics for Denis

Question

Read the extract below carefully and answer the questions that follow: [22 Marks]
The Management of UEW has recently drawn the attention of the Dean of the Faculty of Social
Science Education (FSSE) on its observations made in this faculty as follows:
 There is littering at the FSSE and its environs.
 There is too much noise making at the faculty during lecture periods.
 Chairs are moved from the lecture halls and used outside without returning them.
 Lights, fans and sockets are left on even when no one is in the lecture hall.
 Washrooms are kept in poor condition.
Management further indicated that, the facility belongs to the FSSE and made clear demarcation
of its boundaries that stretch across the road up to the Jophus Anamuah Mensah Conference
Centre. Therefore, Management tasked the FSSE members to submit a report on their actions
towards addressing the issues.
i. What specific economic problem can you identify in the above transaction? Explain.

Answer 1

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