Title: Limited Resources and Unlimited Wants & Needs
Scarcity influence my choices I make about spending money because I usually would spend my money on limited resources, and unlimited resources are usually free.
- An example of trade-off I've made would be a choice I've made between attending the movies with b.f, weather then attending the game with friends.I made this decision because I have plenty of time to enjoy with the girls, we're basically around each other 24/7.
- I don't have a deep feeling about the decision I choose because, there would be no lost towards the girls and I on the decision that I made. Only that i missed the game & and that it was a ravel school!!
- Business owners influence each factor that was listed because, their owners of their own business therefor that makes them entrepreneurs. Also when your a business owner your to busy to handle the company on your own to keep it going so your would hire labors/employees to work for you.
- Me personally I see myself as an Entrepreneur . I'm always two step ahead and tend to be a very hard worker. I'm always on top of my game and also makes great decisions.
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I feel that this standard helps me understand how business works,and helps me have a understanding that the business world is not as hard as it looks "so far".This standard also is something that I do everyday as of trade-offs, and scarcity which is very exciting to me...
-How does the trade-off , and scarcity is mixed with being an entrepreneur?
-(no second ?)
Nice post Qunesha. Good understanding of opportunity costs and trade-offs. A few typos but nothing major. But need you to better understand how business owners interact with the factors of productiion. Entrepreneurs buy or rent a building for their business; make decisions about labor; invest in capital goods; and risk their money to start a business in hopes of achieving wealth (profit motive).
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