Olevel vs economics!

+hi everyone, shaoying here ^^ here's some comical relief to economics which i have created after receiving my crappy Olevel results. its not exactly funny and doesnt really make sense though. i will find a good article on the rising food prices and review it. meanwhile, please make do which such stupid jokes created by me ^^
Positive economics--seeks to describe and explain economic facts and events observed objectively. it may be right or wrong, but its accuracy can be tested or verified.eg: shaoying got A2 for higher chinese.
normantive economics--looks at the outcomes of economic behaviour and questions whether these are good or bad.eg: shaoying OUGHT to have score better in the Olevels.
THE MARGINALIST PRINCIPLE: if the marginal benefit exceeds the marginal cost, then people will choose to consume the goods/services.
eg: if all the 6pointers dont come and fight place with me, i may have a chance to stay in hwachong.
scarcity--the situation where the limited resources available are unable to satisfy the unlimited human wants.
eg: the number of A1s available is unable to satisfy the unlimted a1s the students want.
opportunity cost--the cost of any activity measured in terms of the next best alternative forgone.
eg: the opportunity cost of shaoying deciding to mug more on geog, maths, chem, physics is that she lost all her proficiency in languages.
the production possibility curve [PPC]--the PPC shows all the different max attainable combinations of goods and services that can be producted in an economy, when all the available resources are used fully and efficiently, at a given state of technology.
eg: the PPC shows all the diff. max attainable combinations of A1s a student can get in RV, when all the notes are mugged, at the given rate that she/he can study.
law of increasing opportunity cost--the law states that as more of a particular good is produced, larger and larger quantities of alternative good must be sacificed, ie the opportunity cost of its production increases.
eg: it can be observed that the opportunity cost of producing 1A1 is to give up 30mins of reading newspaper to improve ur language. to obtain more A1s for R5, 2hrs of newspaper reading mus be forgone. thus, it can be seen that the opportunity cost increases [ie, we will lose all our proficiency in our languages] as we want additional A1s.the opportunity cost increases becos resources in the economy are not perfectly homogeneous or equally suited in the production of all goods. there is limited time to mug; as such shaoying, as a labour resource, can onli choose to mug for either languages or the rest of the subjects. in general, the morte specialised i am in mugging, the greater rate of probabilty that i will screw up my languages.
the PPc of shaoying moves inwards--there is a decrease in ability of me to generate more A1s.
Output time: 8:25 PM