Scarcity
What is scarcity?
Scarcity is the idea that our resources are limited but our wants and desires are unlimited.
What are the Natural Resources of a candy bar?
coacoa beans
Who is the producer on a farm?
farmer,cow
who are the consumers of candy bars?
people,us
What are the resources used to harvest natural materials?
Agriculture tool
How much does a Snickers bar cost in Taiwan?
35-39 NT
what kind of labor is required to make candy bars?
Farming, workers
who is the producer for sales?
workers,manager
is dealing with credit,banking, savings are involved with consumers?
yes
What is one Factors of Production?
Land (Natural Resources)
Where does the chocolate come from?
Farming, Workers, Factories
what are forms of entrepreneurship
the company, CEO
Would a teacher be considered a producer?
no
Would a ceo be considered a consumer?
No
How much do Hershey factory workers make?
$22 per hour
where is Hershey chocolate made?
Pennsylvania
what is a capital?
capital goods, or man-made resources,
Who are people who make or grow goods and provide services?
producer
what are the three types of consumers?
primary consumers, secondary consumers, tertiary consumers
What is the most popular chocolate?
Snickers
Where can cacao beans be found?
West African
what are the steps to factors of production timeline?
Land-> Labor-> Capital-> Entrepreneurship
would a factory or warehouse be considered a producer?
Yes
what is a consumer in economics terms?
What are ALL the ingredients used in chocolate?
cocoa liquor, (cocoa beans) cocoa butter, sugar, and milk.