Leung Chin Long (18) F.4A Tie Size Jing (9) Yuan Ka Lai ( 42 ) Lai Sin In ( 33 ) Tang Chung Hen (24) Sung Man Hok (3)

Index Private goods and public goods in Lamma Island Economic goods and free goods in Lamma Island The three types of production in Lamma Island The three basic economic problems in Lamma Island Mobility of labor of the foreigners Demand and Supply in Lamma Island Elastic demand in Lamma Island Opportunity cost in Lamma Island Reflections of each members

Private goods and public goods in Lamma Island Sung Man Hook, I am so boring !!!! What can I do for the project ? Erm….Let’s us find out the private goods and public goods together !! Okay !!!

Private goods and public goods in Lamma Island But… first of all, what is private goods and public goods? Let me tell you !!! I am the most smart boy in the Lamma Island

Private goods and public goods in Lamma Island Private goods are goods that are rival and excludable. Public goods are goods that are non – rival in consumption and non – excludable.

Private goods and public goods in Lamma Island Thank you Sung Man Hook … You are really so man !!! You are welcome ! Let’s check it out the private goods and public goods !

This store is the private good because it is belongs to the owner of this shop. So that, this store can’t be able to all the people. If we enter it we have to ask the owner but it is a store, so the owner may not reject us to enter !

Yaw… I know ! I know ! This pier which is behind us the the public goods because we can use it freely.

Economic goods and free goods in Lamma Island Besides the private goods and public goods, is there have another kinds of goods ? It has economic goods and free goods. Then, what is meaning of them ? Can you give me some examples ? Sure.

This is an economic good, because it help us to collect the energy and its energy was’t enough to satisfy all human wants.

And it is an economic good, because the whole it seems that only this one on Lama Island Health Center

I know !!! Then it must be a free good, because there is no admission fee

The three types of production in Lamma Island La~~~la~ ~~ Why are you so exited? Are you silly or…? Don’t you see that ?

Fisherman's who is fishing in Lamma Island ! You see ! Yaw, I know, It is primary production, it refers to the extraction of natural resources and production of raw materials.

Let’s check out the latest novel which is written by MR. CHONG !!!

Wait a moment ! Do you know what is the type of production we are going to use? I know ! It is ttertiary production which is refers to the provision of services. We can borrowed book in The North Lama Public Library

How about this?

And this?

Or this?

They are secondary production, primary production and secondary production !

The three basic economic problems in Lama Island Is any boby know what is the The three basic economic problems in Lama Island ?

The three basic economic problems in Lama Island -1.The resource is rarely seen in the Q1,because the resource is rarely seen,so many goods they have to buy from other place. -2.Land shortage In the Q2,because the land shortage,so they can ’ t to build more stop. -3.Population shortage In the Q3,because they can ’ t have many people to job,so the owner can ’ t have more choose.

Mobility of labor of the foreigners Do you find that there are many foreigners live here ? Yes ! But why are they live here ?

Mobility of labor 1.Government policies on foreign labor and immigration. Relaxing immigration eligibility will increases labor mobility. 2.wages occupation with higher wages in hong kong will increses labor mobility. 3. great working environment. Lamma Island is the one of the best charming islands in Hong Kong.There is a beautiful view either peaceful enviroment. 4.cultural Lamma lsland have characteristic a Western style of restaurant or teahouse.

Demand and Supply in Lamma Island Thank for your answer !

Let’s us walk around and find dome snacks to eat! Actually, It’s time for lunch ! We have to find something to satify our demand !

Demand and Supply in Lamma Island Supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers (at current price) will equal the quantity supplied by producers (at current price), resulting in an economic equilibrium of price and quantity.

Demand and Supply in Lamma Island For example: We visited the Lama Island to watch the windmill. On that day, we went there by boat. We have lunch and some sweetmeats on Lama Island. We also buy some goods there. The demand of the food and good in Lama Island increased at that time. More people need the food and good. So the equilibrium price increase and the equilibrium quantity increase.

Elastic demand and in Lamma Island After having our meal, where should we go ? Let’s have a cup of sweet tea !

Elastic demand and Inelastic demand in Lama Island Are you kidding on me ? WE HAVE JUST EATEN OUR MEAL !

Elastic demand in Lamma Island Stop auguring !!!! The girls are disappear! How can we do our Economics project now?

Let’s have some chocolate ! Which chocolate would you like to buy? Lindor Chocolate please! You have develop the interest on the Lindor Chocolate? Yup!!!

So…the elastic demand will tend to lower ! What is the meaning?

Elastic demand in Lamma Island Because of the interest developed on Lai Sin In, thus, the elastic demand will tend to be lower. The consumers’habit is the one of the factor of the elastic demand. Besides, the availability of substitutes also is one of the factor. If Lai Sin In have less interest in Lindor chocolate, then she have find another kind of chocolate to replace Lindor chocolate then the elastic of demand will tend to be higher.

Elastic demand in Lamma Island We can also have another example of the elastic demand, for example, the windmill in lamma island. It can provide electric for us but not all energy in HK is provide by the windmill. We can have another substitutes to replace it. So that, the elastic demand is higher.

Opportunity cost in Lamma Island The girls are here. This is the end of our field trip … it’s so sad, the time fly pass.

Opportunity cost in Lamma Island And … what is the opportunity cost of this flied trip ?

Opportunity cost in Lama Island

Opportunity cost in Lamma Island Opportunity cost means that the highest-valued option forgone. The opportunity cost of taking part in the fieldtrip on Lamma Island is the lessons we should have on Thursday. Also, due to the time spent on the trip is longer than in school, the activities such as tutorial and extracurricular activity after school will be the opportunity cost. The opportunity cost of it will decrease because the value of visiting on Lamma Island increase, so the things needed to do on Thursday which is the highest- valued option forgone will decrease.

Opportunity cost in Lamma Island The cost of taking part in the fieldtrip on Lamma Island remain unchanged because visiting on Lamma Island is not the highest- valued option forgone.

Let’s say cheese and take a sharp photo !!!!!

I had a nice day the Lamma Island. It was the best day in my F.4 school life. I have a sweet memory ever!!!! After this field trip, my relationship with Classmates are improved. By the way, I put a great effort in this powerpoint. It is a difficult task to do… And now is 3 a.m., I have to go to sleep. See you !

Visit the CORE DAY for Lamma Island, we learn more about the economics of things. to experience, it helps learning, it is looking forward to next year's CORE DAY learn more.

During this fieldtrip, I know that Lamma Island have many different kinds of shops and restaurant. In the past, I just thought that Lamma Island is undeveloped and like a small fishing port. After the trip, I know that Lamma Island is a excellent tourist attraction. Besides, I learn that members cooperation is very important.

After this times a day of Lamma Island investigate in the days to come, we succeed at the book outside of the path in many ways understand Lamma Island condition.If the energy generates electricity, country fair etc..Also understand a Lamma Island local customs and tradition, it make me benefit very many.

During this core day, i learn more things from the core day. that day,we go to the lamma usland. it was my frist time to go lamma island,i was very exiting. i like the view of lamma island. there was a peaceful place that i love. after doing this project. i know more abour my calssmate and we work together hardly.

I feel very happy after went to Lamma Island. I love this place and I haop I will can go there again =]

Our Division of labor Powerpoint making : Tiu Sze Jing Typing : Tiu Sze Jing Photo taking : Lai Sin In, Tiu Sze Jing, Leung Ching Long Photo designing : Tiu Sze Jing Workout --- 1:Demand and supply : Sung Man Hok 2:Opportunity cost :Leung Ching Long 3:Economic Goods and Free Goods: Lai Sin In 4:Types of production, Mobility of labour : Yuen Ka Lai 5:Private goods and Public goods, Elastic demand : Tiu Sze Jing