The purpose of the study of economics is to help society decide how to create, distribute, and consume wealth. Every human activity has an economic dimension. Every time you wonder if there will be enough money to pay the rent or the mortgage, question the increase of food prices or decide to buy certain products, you are acting as an economic decision-maker. The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:
• F.02 Explain the factors of production,
• F.03 Explain the concept of scarcity,
• F.06 Determine forms of economic utility created by business activities,
• F.07 Explain the principles of supply and demand
This resource is part of the Entrepreneurship Learning Activities collection.