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The Skills Defined:
Econ 1.1 - Explain basic economic concepts
Task 2: Concepts of Econ
Task 2: Concepts of Econ
TO DO:
Make a copy of the Basic Concepts of Economics
Read AND/OR Watch
Answer the questions and take notes
Submit to Beacon when you are done!
What are the three basic economic questions?
What to produce?
What kinds of goods and services should be produced?
How to produce?
What productive resources are used to produce goods and services?
Who to produce for?
Who gets to have the goods and services?
Resources
Resources
Opportunity Cost
Opportunity Cost
Factors of Production Video & Text
Factors of Production Video & Text
Economic Terms Glossary
Your Task
Your Task
Task 3: Apply the Concepts
Task 3: Apply the Concepts
TO DO:
Make a copy of the Apply Basic Concepts of Economics
Use the resources from the lesson above if needed
Apply to your business plan!
Submit to Beacon when completed
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