Students will explore how limited resources restrict the goods and services that people may want and how consumers must choose some things and give up others

Overview : Students will explore how limited resources restrict the goods and services that people may want and how consumers must choose some things and give up others. Students will consider systems and means created to meet and manage the issue of scarcity.

Standard

E.02 Define land, labor, capital, and entrepreneurship, and explain why they are necessary for the production of goods and services

– Define land , labor, capital, and entrepreneurship

– state that land, labor, capital, and entrepreneurship are the factors of production

– Explain why land, labor, capital, and entrepreneurships are necessary to produce goods and services.

*include vocabulary slide

Please break down the standard so that it will not be so broad .  Any extra is appreciated 

**Create a teachable power point to go along with the standard. Suitable for high school. No set amount of slides, just enough to get me through a 30 min class

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