lesson
Factors of Production: Land, Labor, Capital, and Entrepreneurship
Identify the four factors of production and examine how their distribution creates competitive advantages in Eastern Hemisphere nations.
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Economic Systems, Scarcity, and Global Consumers
10 lessons
Goal
Examine economic systems, scarcity, consumer behavior, business enterprise, and global trade in the Eastern Hemisphere.
10 lessons
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- The Fundamental Economic Problem: Scarcity and ChoiceUp next
- Comparing Traditional, Command, Market, and Mixed EconomiesNot started yet
- Factors of Production: Land, Labor, Capital, and EntrepreneurshipYou are here
- Supply, Demand, and Market Price DeterminationNot started yet
- The Role of Consumers in Modern Eastern Hemisphere MarketsNot started yet
- How Businesses Operate: Revenue, Costs, and Profit IncentivesNot started yet
- International Trade: Specialization and Comparative AdvantageNot started yet
- Trade Barriers: Tariffs, Quotas, Embargoes, and Free Trade ZonesNot started yet
- Global Supply Chains and Economic InterdependenceNot started yet
- Responsible Consumerism, Budgeting, and Ethical Business PracticesNot started yet
Learning standards covered
SS.7.3.1Colorado Social Studies Standards · All agesDescribe how economic systems in the Eastern Hemisphere developed based on access to resources, societal values, and human experiences in order to address the problem of scarcity.
SS.7.5.1Colorado Social Studies Standards · All agesInvestigate the role of consumers and businesses within the Eastern Hemisphere.