Answer to Question #146008 in Economics for Saachi

Question

Q.1] In late 2016, An American Company announced that it would
be starting the project to use the power of waves off the coast in
Cornwall in U.K. to generate electricity. More enterpreneurs are
becoming interested in making use of power which is a free good,
more labour is likely to be employed in the industry. The quantity of
labour has increased in recent years.
a) Define Enterpreneur [2]
b) Difference between a free good and economic good [4]
c) Using a PPC, the effect on economy of an increase in the
supply of labour [6]
d) Discuss whether or not the supply of labour is likely to increase
in future or not [8]

Answer 1

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