Identify the factors of production (i.e., natural, labor, capital, and entrepreneurial). Drawing on case studies, textbooks, or similar resources, discuss the concept of opportunity cost in the context of business operations, and explain how businesses make decisions based on scarcity of resources. Research emerging technologies (robotics, artificial intelligence, etc) and identify the impact on changing production.
Standard detail
7
Depth 1Parent ID: 988C244F0F5A40ACA388E65468E39E3BStandard set: Introduction to Business and Marketing
Original statement
Quick facts
- Statement code
- 7
- List ID
- 7
- Standard ID
- 5E651EDF8F8A4999A9840CA5F9FF7948
- Subject
- CTE (2020-)
- Grades
- 09, 10
- Ancestor IDs
- 988C244F0F5A40ACA388E65468E39E3B
- Source document
- Introduction to Business and Marketing
- License
- CC BY 4.0 US