Unit 1 Performance Task

My Product/Business is… Why is it needed? Several reasons…. Here are some pictures of what I envision my business to be

What I’ll need 1 st factor of production Example 1 Example 2 Example 3… 2 nd Factor of Production Example 1 Example 2 Example 3…. MORE PICTURES!

What I’ll need 3 rd factor of production Example 1 Example 2 Example 3… MORE PICTURES!

I could also show my factors like this Factor 1Factor 2Factor 3 Example

I am the entrepreneur I am the entrepreneur because… I am similar to some of these people (real life examples of people in your industry) because they also…

My PPC I will face multiple tradeoffs in my business. Here are some examples Example A vs B Example C vs D Example E vs F

Here is one tradeoff I can show on a graph called a… Option 1 Option 2 For example, as I move from point A to point B… A B

Problems with scarcity It would be nice if I could just produce infinite amounts of my product. However, scarcity can NEVER be avoided for several reasons………………….. I will face scarcity in many areas. Example

Scarcity Example 1 This is scarce because… One way I could try to minimize this is…

Scarcity Example 2 This is scarce because… One way I could try to minimize this is…

Scarcity Example 3 This is scarce because… One way I could try to minimize this is…

Plan to improve productivity Even though I haven’t begun production, I already have a plan to get the maximum production out of my resources. I plan on getting the best technology because…. More importantly, I will spend time to educate and train my workers because…

Plan to improve productivity The specific types of technology I need are… Pictures pictures pictures

Plan to improve productivity The specific types education and training I need to consider are…because Pictures pictures pictures

Opportunity Cost Investing in Technology and Education comes at a cost For example….