posted by Peppermintmocha on .
List the four factorsof production and explain why each is necessary for production to take place.
Land- Land is necessary because of its natural resources.
labour-People are needed to do the work.
capital-capital is needed to pay for production and to pay workers' salaries.
Enterprise-Businesses are needed to make sure operations run smoothly.
2. Provide an example of opportunity cost.
Sara goes to Starbucks and wants both a peppermint mocha and a brownie. She chooses the peppermint mocha, so the brownie becomes the opportunity cost.
3. Give two other examples of opportunity cost that affect groups other than consumers.
I'm not quite sure. I have: the government wants to build a fitness center and an orphanage. They pick the orphanage, so the fitness center is the opportunity cost.
4. Define value added.
Value added is the amount you sell the product for, after taking the costs of materials into consideration.
5. Explain how a clothing retailer can add value to their products.
A clothing retailer can add value by wrapping the clothes in a pretty box or by putting certain clothes on a manequin to make them look more appealing and stylish.
Here is Writeacher's lesson on How to Search on the Internet:
For Internet searching:
At this webpage, you can go immediately to the search sites (first three columns across the top) -- or even better you can scroll down until you see the section called HOW TO SEARCH THE INTERNET. Those are the links to start with. You'll not only learn how to come up with good search terms, but also how to evaluate the webpages you get as results. Some will be good and others will be garbage. You need to know how to tell the difference.
My favorite way to search is to go to Google's advanced search page http://www.google.com/advanced_search?hl=en and put my search words or phrases into the first or second search box (either "all the words" or "exact phrase").
Learning to use Google or other search engines can save you time and help you learn to find information efficiently. Here are some websites that can teach you how:
... and one to help you judge whether a particular website's information is worth your time:
Wow, that website is really cool!! Thanks.
I found my second group. The opportunity cost can affect organizations.