Standard 1: Scarcity and Economic Reasoning Objective: Understand why choices need to be made and things given up Essential Knowledge: Scarcity, Factors of Production, Opportunity Cost, Types of Economies, Production Possibilities Curves (PPC) Warm-up - PowerPoint PPT Presentation

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Standard 1: Scarcity and Economic Reasoning Objective: Understand why choices need to be made and things given up Essential Knowledge: Scarcity, Factors of Production, Opportunity Cost, Types of Economies, Production Possibilities Curves (PPC) Warm-up

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Before a business can start making a product, they have to answer 3 basic questions. ... Services are when you hire someone to do something for you. – PowerPoint PPT presentation

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