report of s.4 fieldtrip on lamma island

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Member List: Member List: Li Lai Kuen(08) Li Lai Kuen(08) Tsoi Sze Man(10) Tsoi Sze Man(10) Wong Ching Yee(12) Kwok Nga Wong Ching Yee(12) Kwok Nga Wing(32) Wing(32) Suen Sze King(39) Lee Suen Sze King(39) Lee

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Report of S.4 Fieldtrip On Lamma Island. 10-03-2011. Member List: Li Lai Kuen(08) Tsoi Sze Man(10) Wong Ching Yee(12) Kwok Nga Wing(32) Suen Sze King(39) Lee Ying Shuen(34) Yeung Lai Sze(13). 1) Ownership of company: - PowerPoint PPT Presentation

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Page 1: Report of S.4 Fieldtrip On  Lamma  Island

Member List:Member List:Li Lai Kuen(08) Tsoi Sze Man(10)Li Lai Kuen(08) Tsoi Sze Man(10)Wong Ching Yee(12) Kwok Nga Wing(32)Wong Ching Yee(12) Kwok Nga Wing(32)Suen Sze King(39) Lee Ying Shuen(34)Suen Sze King(39) Lee Ying Shuen(34)Yeung Lai Sze(13)Yeung Lai Sze(13)

Page 2: Report of S.4 Fieldtrip On  Lamma  Island

1) Ownership of company: Government enterprises………………………………….p.2 Sole proprietorship………………………………………..p.3 2) Public Goods VS Private Goods Public Goods………………………………………………p.4 Private Goods……………………………........................p.5 3) Demand & Supply Definition of Demand & Supply………………….……p.6 Example of Demand & Supply………………………...p.7 4) Types of production Primary production………………………...…………p.8 Secondary production……………………………..…..p.9 Tertiary production…………………………………..p.10 5) Scarcity…………………………………………p.11 6) Free goods and Economic goods Free goods………………………………………………p.12 Economic goods……………………………...………..p.13 7) Private property rights …………..…….……..p.14

Page 3: Report of S.4 Fieldtrip On  Lamma  Island
Page 4: Report of S.4 Fieldtrip On  Lamma  Island

Definition: Government enterprises are directly run andmanaged by the government.Example:Hong Kong Police Force is one of the example

ofgovernment enterprises. They provide servicesto the public.

Page 5: Report of S.4 Fieldtrip On  Lamma  Island

Definition: It is the kind of business that is conducted by one person.

The owner runs the business on his own without sharing his business with

anybody.  Example: The Bean Curd Pudding shop

is one of the example of Sole Proprietorship. It owned by one person and the owner should cover

all the skills by running the business.

Page 6: Report of S.4 Fieldtrip On  Lamma  Island

Definition Of Public Goods:Public Goods that are non-rival inconsumption and non-excludableExample: The public toilet in Lamma Island is one ofthe example of public goods. They are nonrival and non-excludable. All people canenjoy them.

Page 7: Report of S.4 Fieldtrip On  Lamma  Island

Definition Of Private Goods:Private Goods are goods that are rival

andexcludable in consumption.Example: Bean curd desserts are one of the example ofprivate goods because two persons cannot takethe same bite and the owner can prevent othersfrom enjoying it.

Page 8: Report of S.4 Fieldtrip On  Lamma  Island

• Definition of Demand:• It refers to the quantity of a good that a

consumer is willing and able to buy at different prices per period of time, other factors being constant.

• Definition of Supply:• It refers to the quantity of a good that a seller is

willing and able to sell at different prices per period of time, other factors being constant.

Page 9: Report of S.4 Fieldtrip On  Lamma  Island

• Example of Demand & Supply : The Lamma Island Ferry .The Ferry schedule

frequency will increase rapidly when the passengers of the ferry increase ,demand of the ferry will increase. The selling of the Ferry company(the supplier, seller) will also increase either. Therefore, the price and the quantity of the ferry are increase.

Page 10: Report of S.4 Fieldtrip On  Lamma  Island

• Definition: The production activities which directly turn

the natural resources into product . • Example:The farming of the herboland is one of the example of the primary production on the Lamma Island.

Page 11: Report of S.4 Fieldtrip On  Lamma  Island

Definition: • The activities that turn raw material to the semi-

finished product or finished product.

• Example: The chief of the restaurant on the Lamma Island

turn raw material(seafood of other raw material of the food) to the finished product (the cooked food) for selling to consumers.

Page 12: Report of S.4 Fieldtrip On  Lamma  Island

• Definition: The activities that provide services to

customers. Example: The restaurants is an example of tertiary

production. It provides services to customers .

Page 13: Report of S.4 Fieldtrip On  Lamma  Island

• Definition: It states that society has insufficient

productive resources to fulfill all human wants and needs

Example: The wind power is scarcity. The supply of the wind power cannot satisfy the human wants.

Page 14: Report of S.4 Fieldtrip On  Lamma  Island

Definition of Free goods: Anything whose quantity is enough to satisfy all

human wants is a free good. More is not preferred to less.

Example:

The air in Lamma Inland is free goods. The quantity is enough to satisfy all human wants.

Page 15: Report of S.4 Fieldtrip On  Lamma  Island

• Definition of economic goods: Anything whose quantity is not enough to

satisfy all human wants is a free good. More is preferred to less.

Example: The souvenir which sold in Lamma Inland is

economic good. Their quantity was not enough to satisfy if everyone were bought one.

Page 16: Report of S.4 Fieldtrip On  Lamma  Island

• Definition: Private property rights include exclusive right to

use to goods , exclusive rights to receive income generated by the use of the good and right to transfer the good.

Example: There have a lot house in Lamma Island,

the owner of these houses can live in these house, receive income by rent the house, they also can transfer the house.

Page 17: Report of S.4 Fieldtrip On  Lamma  Island

i)What is the opportunity cost of taking part in the fieldtrip on Lamma i)What is the opportunity cost of taking part in the fieldtrip on Lamma Island?Island?Ans: The opportunity cost of taking part in the field trip on Lamma Island Ans: The opportunity cost of taking part in the field trip on Lamma Island is the time to study in school. is the time to study in school.

ii)Will your answer in (i) change if the weather on that day is very good?ii)Will your answer in (i) change if the weather on that day is very good?Ans: No, the opportunity will not change if the weather is very good on Ans: No, the opportunity will not change if the weather is very good on that day, because opportunity cost is the highest valued option forgone. that day, because opportunity cost is the highest valued option forgone. Although the weather is very good, it will not affect the highest valued Although the weather is very good, it will not affect the highest valued option forgone.option forgone.

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

Ans: NO, the opportunity cost will not change if the weather on that day is Ans: NO, the opportunity cost will not change if the weather on that day is very bad, because it will not affect the highest valued option forgone, so very bad, because it will not affect the highest valued option forgone, so the opportunity cost remain unchange. the opportunity cost remain unchange.

Page 18: Report of S.4 Fieldtrip On  Lamma  Island
Page 19: Report of S.4 Fieldtrip On  Lamma  Island

In this fieldtrip, I thought everyone of us have agreat day~ We are not just stay in the classmatesand listen for the teachers, but also went outside.After this fieldtrip, I had been more clear about theconcept of economics. Beside I was enjoyed thetime that interview with the local people of

Lammap.17Island, they are very nice.

Page 20: Report of S.4 Fieldtrip On  Lamma  Island

• In this trip, it provides lots of chances for me to study . I have better understanding of economic concepts. For example, there have some farmland in Lamma Island which can strengthen the understanding of primary production for me . Moreover, there have many shops are sole proprietorship such as Bean Curd Pudding.

• In short, this is a wonderful trip. It not only provides chances for us to study, but also make me feel fun.

•  

Page 21: Report of S.4 Fieldtrip On  Lamma  Island

• In this fieldtrip, I got how the daily use of the economics concept. In the Lamma Island, we can find that most of the citizens who live in Lamma Island are in business. The Lamma Island like a mini society in Hong Kong. They live in an island. They should get the daily material in the island. Therefore, they create a lot of families business on the island to satisfy the citizens wants.

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• After this economic project .I knew what the economic development, how to development of Lamma Island. After the trip of the CORD day , we also knew the Economic is how surrounding us! And we experience a nature with classmates!

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• It’s interesting that the whole form four students could group together and went to Lamma Inland and do our explore trip. It was my first time to go to Lamma Inland. We can only learn more and have a deeply knowledge about economics concept outside the classroom, but also enjoy a day with shiny sun. Although Lamma Inland is not a large place, we can found there were a lots of economics idea around this small inland such public goods, free goods, etc. After this trip, I realize that we can learn economic concept through different ways such as this explore trip, not just from the academic book.

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• Lamma Island is located to the southwest of Hong Kong Island. Lamma provides an alternative to the hectic life in the city. Property and rents are cheap compared with those of central Hong Kong. I think the reasons why it can attract many foreigners to live in there are the views are beautiful and they feel leisurely and carefree,

• Hung Shing Yeh Beach , Lamma Power Station and Lamma Winds are the popular attraction in Lamma Island. The beach is very beautiful and the sand is fine. When we reach Lamma Power Station, I can see a big pile of coal there. Some coal will follow the wind and fly away. I think it will cause air pollution. Besides, we go to the Lamma Winds. I think it is a great construction because the wind in there is very strong. It can make the Lamma Winds work better. Wind energy is a renewable energy. It can reduce the pollution and the damage of natural environment.

• The fieldtrip on Lamma Island is meaningful and joyful. I hope we can have more fieldtrip.

Page 25: Report of S.4 Fieldtrip On  Lamma  Island