The Foundation of Choice · Semester 1
Making Choices: Businesses and Governments
Examining how businesses and governments make decisions about resource allocation and production.
Key Questions
- How does a business decide what goods or services to produce with its resources?
- Explain the factors a government considers when allocating funds for public services.
- Analyze the opportunity costs involved in a government choosing to build a new hospital over a new school.
MOE Syllabus Outcomes
MOE: The Central Economic Problem - S3
Level: Secondary 3
Subject: Economics
Unit: The Foundation of Choice
Period: Semester 1
Suggested Methodologies
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Examining the value of the next best alternative foregone when making a choice.
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The Four Factors of Production
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Making Choices: Individuals and Households
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