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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Unit 1 Challenges 1

Unit 1 Challenges 1

Q 1. Which employability skill helps individuals strategize, organize, and effectively manage one's time and priorities? 2. Alvin wins a cash prize of $1,000 in a sporting event. Although he wanted to buy a car that costs $3,000, he decides to use the cash to buy a scooter that costs $900. Identify the foundational concept of economics that influenced Alvin's purchase decision. 3. Tina, a technical analyst, is aiming for a promotion later this year. To increase her chances of securing a promotion, she enrolls in a certification program to develop her expertise in her current field of work. She becomes an expert in handling technical software and troubleshooting, an ability that she lacked before. 4. Raj is a 30-year-old software engineer who plans to retire by 40 and therefore needs to start earning from his investments quickly. Which of the following investment options is most appropriate for Raj?

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1. Productivity is a skill that helps individuals strategize, organize, and manage time and money effectively. 2. Scarcity is the limitation or the gap between limited resources and excessive wants and needs. Alvin lacks sufficient funds to buy the expensive car because of which he buys himself a scooter to satisfy his needs for transportation.