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Grade 10 Economics: Term 2
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Module 1
Foundations: Scarcity, Choice, and Production
1
Scarcity, Choice, and Opportunity Cost: An Everyday Introduction
Explain the basic economic problem (scarcity, choice, opportunity cost) using a simple everyday example.
2
Factors of Production & Their Rewards
Identify the four factors of production (natural resources, labour, capital, entrepreneurship) and their rewards in a given scenario.
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