BUSINESS HIGH SCHOOL-ENTREPRENEURSHIP What is an Economy? Entrepreneurs In a Market Economy Unit 2 The Concept of Cost Government in a Market Economy Essential Learning Expectations-Unit 2: In every economy, there are limited resources to produce goods and services. The four functions of business include: production, marketing, management, and finance and are dependent upon each other in order for a business to run effectively. In a market economy, the government may serve as a regulator, a provider of public good, a provider of social programs, and as a redistributor of income. In a market economy, individuals choose what, how, and for whom products and services are produced. Content Vocabulary: Scarcity Supply Demand Opportunity cost Productivity