組員楊蘭蘭 (40)何巧怡 (37)葉翠瑤 (41)劉家銘 (14)盧以諾 (21)廖嘉豪 (19)

list

• P.3-4 Three question

• P.5-11 Seven economic concepts

• P.12-17 Feelings

~End~

Three question

• what is the opportunity cost of taking part in the fieldtrip on lamma Island?

• Ans:The opportunity cost of taking part in the fieldtrip is the nomallay lesson in school

• Will your answer in (i) change if the weather on that day is good ?

• The answer will not change . Although the weather on that day in good ,the high option value forgone will not increaese or decreases

Three question

• Will your answer in (i) change if the weather on that day is bad ?

• Ans:The answer will not change . Although the weather on that day in bad ,the high option value forgone will not increaese or decreases

Seven economic concepts: Free Goods

• Definition: Anything whose quantity is sufficient to satisfy all human wants is a free good. More is not preferred to less.

• Features of economic good• -More is not preferred to less• -Competition does not exists• -Opportunity cost is not incurred

• Example:• Sea water is the most common and simple

example of free goods.

Seven economic concepts: primary production

• Definition : primary production refers to the extraction of natural resources and production of raw materials

• Example : fisherman:this is the primary production. In lamma ialand , some people will be the fisherman, because lamma ialand is along the coast.They will fishing then sell the fish to earn the income.

Seven economic concepts: Private goods

• Definition : are goods that are rival and excludable in consumption

• Example ; the foods in the restaurant

Seven economic concepts: public good

• Definition : are goods that are non- rival and non- excludable in consumption

• Example: the view in the lamma ialand

Factors of production (labour and entrepreneurship)

• The old woman belongs to labour because she puts her human effort in production, i.e.( bean curd )

• She also belongs to entrepreneurship because she has to bear the risk, if there is no business ,he may make a loss

Sole proprietorship

• I think this operating of bean curd is sole proprietorship. It is because the shop is own by an individual .

• The advantage of sole proprietorship is she can find her relatives to help to produce or sell bean curd

Seven economic concepts: Demand and supply

• Definition : Demand is the quantity that consumers are willing to buy at a given priceSupply is the quantity that producers are willing to sell at a given price.

• Example: the trains of the boatthe people of the lamma island or the people go to lamma island need to travel by the boat. When people’s demand for the boat increase, the supply of the boat also will increase. When people’s demand for the boat decrease, the supply of the boat also will decreasepeople are willing to travel it at a given price. The company of the boat also are willing to sell at a given price.

Feelings

• Lo yee nok:After I went to the fieldtrip in Lamma Island, I learned a lot of things. In this fieldtrip, I know more about the local people and culture in Lamma Island. Moreover, the government can develop ecotourism in Lamma Island. It may attract more foreigners to Lamma Island. There has many hand-made product like bookmark and decoration. The abundant environmental resources on Lamma Island provide highly diverse natural habitats including mudflats, beaches, flowering shrubs, wall trees and granite hills, etc. Also, there is no public transport and residents get by bicycles and small carts. I love Lamma Island very much and I want to go to Lamma Island again.

Feelings

• Liu ka ho:I think this CORE DAY go to Lamma Island, it is good activity. In this activity, I learnt Lamma Island economic. People to do private goods, they open restaurant to do a business. More a foreigner to buy house in Lamma Island. This make Lamma Island economic increase.

Feelings

• Ho hau yi:In this fieldtrip on lamma Island, i visited the wind- power plant and the place of the lamma ialand. I get more understands adout this little ialand and somethings different from the city.

• Also ,i can application the economic concept in some facilities of lamma ialand,To lead to increase of my economic knowledge.all in all,i have gain a lot from this trip

Feelings

• Lau ka ming:After the fieldtrip on lamma Island , i have learn more somethings that can't learn from the school such as the experience of the fieldtrip.apart from this,the people of the lamma ialand also are so nice.last, it is meaningful day for me !

Feelings

• Yeung lan lan:~I think this outdoor tour (Lamma Island) can broaden our horizons~

• This outer tour is very funny, we will not feel boring• ~ we both can learn and can increase awareness of

Lamma Island• ~I understand that the local economy and culture of

Lamma Island• Moreover, I very like to eat bean curd because tofu is

especially good at Lamma Island• ~In this project, I can use different economics concept to

do this report and rise awareness of different economics

Feelings

• Yip chui yiu: The C.O.R.E day for the lamma lsland is very meaningful . this trip bring us many new knowledge. It also let us know more about the lamma island, including their living mode or environment . the people of lamma island is very nice, not same with the people who live in country. Lamma island is the place that very relax. They do not need to worry too much.