Objectives:
- Define scarcity of resources and its significance in entrepreneurship.
- Explain the relationship between scarcity and opportunity cost.
- Analyze how scarcity affects decision-making in an entrepreneurial venture.
National Standards:
Complies with NBEA Entrepreneurship 2023 Standard IV.A.4: Define scarcity of resources.
Materials:
- Panel of judges (Students can serve as judges)
- Activity Handouts
- Define scarcity of resources and its significance in entrepreneurship.
- Explain the relationship between scarcity and opportunity cost.
- Analyze how scarcity affects decision-making in an entrepreneurial venture.
National Standards:
Complies with NBEA Entrepreneurship 2023 Standard IV.A.4: Define scarcity of resources.
Materials:
- Panel of judges (Students can serve as judges)
- Activity Handouts
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