1. Fundamental Concepts Performance Task
Students Name
Period
Date

2. Basic Info

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

4. Scarcity

5. 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

6. Scarcity Example 1 This is scarce because…
How does this example of scarcity effect the business?
One way I could try to minimize this is…

7. Scarcity Example 2 This is scarce because…
How does this example of scarcity effect the business?
One way I could try to minimize this is…

8. Scarcity Example 3 This is scarce because…
How does this example of scarcity effect the business?
One way I could try to minimize this is…

9. Scarcity Example 4 This is scarce because…
How does this example of scarcity effect the business?
One way I could try to minimize this is…

10. Factors of Production

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

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

13. I could also show my factors like this
Example

14. 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…

15. Role of Government

16. Government Regulation
How does the government affect your business?
What regulations affect your business?
What economic system would your business most like to function in and why?

17. Specialization

18. Specialization How does your business specialize?
How does the specialization of your business help you(the producer) as well as the consumers?
How can you improve your businesses specialization?

19. Production Possibilities Curve

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

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

22. How can this business improve in terms of growth on that PPC?

23. Improving Productivity

24. 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…

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

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

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

28. Conclusion

29. Conclusion
What are the most rational economic decisions your business should make and why?