Posted: September 14th, 2015

Dominant factors of production.

1.Give an example of how “scarcity” plays a role in your daily life and decision making. What are the opportunities forgone as a result of the choices made?
2.In your work places what examples of trade offs do you see on a daily basis? What are the dominant factors of production that are seen in your places of employment?
3.In thinking about how you make choices as individuals, what influences your economic decision making? How do you come to decisions in terms of consumption and how you use your resources?
4.In our society who dictates What is Produced? Consumers or Producers?

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