Identify the factors of production (i.e., natural, labor, capital, and entrepreneurial). Drawing on case studies, textbooks, or similar resources, discuss the concept of opportunity cost in the context of business operations, and explain how businesses make decisions based on scarcity of resources.
Standard detail
basic.2
Depth 1Parent ID: D2E239162EED48759D76D6F96EF5EFBDStandard set: Introduction to Business & Marketing
Original statement
Quick facts
- Statement code
- basic.2
- List ID
- 2
- Standard ID
- 86E280EBC42F42DD8EE73523F8B1F5F3
- Subject
- CTE (2020-)
- Grades
- 09, 10, 11, 12
- Ancestor IDs
- D2E239162EED48759D76D6F96EF5EFBD
- Source document
- Tennessee State Standards
- License
- CC BY 4.0 US