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‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬
Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University
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College of Administrative and Financial Sciences
Assignment -1
Course Name: Microeconomics
Course Code: ECON490
Student’s Name:
Semester: Summer Term- 2021-2022
Student’s ID Number:
Academic Year: 1442/1443 H, Summer Term
For Instructor’s Use only
Instructors Name:
SEU Instructor’s Name:
Students’ Grade: Marks obtained/out
of 30
Level of Marks: High/Middle/Low
✓ This assignment is an individual assignment. Students are encouraged to use their own
✓ Students must follow Saudi Electronic University academic writing standards and APA
style guidelines.
✓ Support your submission with course material concepts, principles, and theories from the
textbook, along with at least two scholarly, peer-reviewed journal articles.
✓ A mark of zero is awarded for any submission that includes copying from other resources
without proper referencing it.
✓ Write at least 6-7 pages in length, excluding the title page, abstract and required
reference page, which is never a part of the minimum content requirements.
✓ It is strongly encouraged that the student submits his/her assignment into the Safe
Assignment Originality Check before sending it to your instructor for grading.
✓ Read the assignment guidelines earlier sent at your email IDs.
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An Overview of Assignment submission time & grades:
Type of Assignment
Posting date
Due date
Critical Thinking
Grace period*
* Grace Period: with an accepted excuse (accepted by the instructor) with deduction of 10% for late
Q1. “Economics is the study of how humans make choices under conditions of
scarcity.” Critically examine the statement with suitable examples.
(7.5Marks) At least 400 words to answer each question
Q2. “When the tasks involved with producing a good or service are divided and
subdivided, workers and businesses can produce a greater quantity of output.”
Critically examine this statement keeping in mind the role of division of labor
and specialization. (7.5 Marks) At least 400 words to answer each question
Q3. Which economic principle is most involved in the analysis of scarcity using
a production possibilities curve? Illustrate your answer with the help of a
(7.5Marks) At least 400 words to answer each question
Q4. “Opportunity cost is the value of the benefits of the foregone alternative, of
the next best alternative that could have been chosen but was not.” Critically
analyze the statement by understanding that choices and alternatives have its
own advantages and time constraints. (7.5Marks) At least 400 words to answer each
End of Page
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Answers :-
Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University
‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬
College of Administrative and Financial Sciences
Department of Business Administration
Guidelines for Assignments’ Submission
All Pre-MBA students – Read the following information
Formatting Specifications:
One-inch margins on all sides of the document.
Double-space entire document, including the reference page.
Use Times New Roman, black font color, and size 12 font for the entire document, including
the reference page.
Include a separate title page with the following information. Centered in the top half of the page:
(a) paper title, (b) student name, (c) course number and name of course, (d) name of institution,
(e) name of instructor, (f) date submitted. All major words are capitalized and not bold.
Insert the page numbers on the title page. Start with page 1.
Use headings within the body of the document. Headings establish the hierarchy of the sections
of a paper. All topics of equal importance have the same level of heading throughout the paper.
Use at least two subsection headings within any given section or use none.
Indent all paragraphs five spaces to the right or 1/2 inch with no extra line space
between paragraphs.
Spell out all phrases when first used in a document with the acronym in parenthesis after it. Just
the acronym can be used in subsequent uses. Example: The Chief Executive Officer (CEO) for
Motorola stated…
• In-text citations should be used throughout body of document.
• Directly quoted material should be cited to page number or paragraph number of where
the quotation was found. Keep in mind that only 15-20% of your paper can be quoted (i.e.,
one quote per page).
• Block formatting is required for quotes of 40 words or more. For a block quote, indent
entire quote 5 space to the right or 1/2 inch, do not use quotation marks, and place the period at
the end of the quote, not the citation.
• Use a page break (common feature in word processing software) to create a new page
for reference citations. The word “References” should be centered at the top, not bold, and
should not have any punctuation. References are double spaced and in hanging indent
format and in alphabetical order.
Several templates and a sample paper are available for you to see examples ofAPA
Plagiarism is NOT tolerated. All assignments will be auto checked for plagiarism. If you are found
to have more than 25% similarity with previous work, you will be graded zero in your assignment.
Repeating such offense could result in your termination. If you have any doubt or questions, please
ask your instructor before submission.
So please be careful when writing your assignments. A tool on the blackboard is available to check
the plagiarism. Always check before submission.

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