Consider a business that is currently operating (e.g., your current employer, Amazon, GM, etc.). Respond to the following questions with respect to the business you choose. Enter your answers in the box underneath each question. Refer to the example response on the next page for guidance.

Questions:

1. Identify the business and list at least one example of an economic resource for each of the four categories listed in your text that this company uses (or very likely uses).

Remember, you are considering economic resources (e.g., labor, capital, entrepreneurial talent, etc.), and not payment for these resources (e.g., wages, etc.).

2. Why are these resources scarce? For example, who else could use them or what other use might they have?

3. How can the study of economics help this company decide how to better use these resources?

Think specifically about marginal analysis. For example, how could marginal analysis be used when analyzing how to best use limited resources?