1. 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