Describe the production possibility curve
Explain a production possibility curve. Differentiate between points on the curve, points outside the curve, and points inside the curve. How does this related to opportunity cost and scarcity?
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Describe how market economy compensates for market surplus. What about market shortage? Why is price driven toward equilibrium? How does relate to laissez-faire.
Explain the two types of audit tests? What are some examples of each of these two types of tests? How will the auditor use the data gathered from these tests?
Identify and discuss 3 examples of routine or transactional change during your work experience.
Explain the purpose of engagement planning? What critical information should the auditor consider during engagement planning? How will this information affect the scope of the audit?
Describe the production possibility curve. Distinguish between points on curve, points outside curve, and points inside curve.
What are the components of the audit risk model? How does the audit risk model affect an audit plan?
Imagine creating a blog that you can use either at work or at home. Explain the entire process of how you would create that specific blog and the key features it should include. You must not create the actual blog entry
Find the product that has not already been selected and explain price elasticity and income elasticity. How much control might organization have over pricing based on product's elasticity?
Describe the economic issues that drive the increased demand for assurance services? What is one assurance engagement and one attestation engagement other than audit of financial statements? Explain the differences between the two engagements?
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Evidence of Cultural Impact: The cultural impact of economic factors can be observed through specific practices and initiatives within the NSHA:
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