i want to talk to you about a four-letter word:
DESCRIPTION
I want to talk to you about a four-letter word:. NEED. Need--. Tell me what you. Need--. Tell me what you. Need--. There are no other substitutes. I want to talk about a four-letter word that begins with the letter. F. REE. Welcome To What's FREE On The Internet!. Tell me what is. - PowerPoint PPT PresentationTRANSCRIPT
I want to talk to you about a four-letter word:
Need--
Need--Tell me what you
Need--Tell me what you
There are no other substitutes.
I want to talk about a four-letter word thatbegins with the letter
Welcome To
What's FREE On The Internet!
Tell me what isIt doesn’t cost anyone, anything!
Economics is the study of _____________?
Name Date
Economics is the study of how individualsand societies, experiencing virtually limitlesswants, choose to allocate their scarce resources to satisfy their wants.
Name Date
WantsUnlimited
>Availability
ofResources
Limited
Scarcity means:
Economics Scarcity=
Another name for resources is
Factors of Production
Resources = Factors of Production
1. Land-- Natural Resources not created by humans - Rent or Mortgage
2. Labor-- People with all their skills and abilities - Wages, Salary, Tips earned for your job
3. Capital-- Tools and equipment used in production of goods and services - Cash register
4. Entrepreneurship--
5. TIME!People that take risks to earn profits by starting a business using existing resources- Bill Gates
$143
Gratuitous
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