Scarcity influences the choices you make about your money because you can not buy everything you want if you do not have the money to buy all that. I once had to trade off some shoes, I either could have got a pair of expensive shoes or two pair of cheap shoes. The opportunity cost was that me getting the expensive shoes over the two cheaper shoes was that the expensive shoes probably would have lasted longer while the cheaper ones probably would not have. I chose the more expensive shoes because they are more worth my money and I will get more use of them. I was happy with my choice of shoes because the more expensive shoes is what I really wanted.
A risk that business owners may take about land is that it might be to small to run the business, and a reward that owners might take about land is that the land might be popular and have good history. A risk that business owners might take on laborers is that the workers might be lazy and do not get their job done, and the reward might be that the laborers might make the business good money and bring in a lot of coustomers. A risk that business owners may take upon capital is that they might not be making enough money to run the business, and a reward might be that people really like the retail they are buying and they will come back for more. A risk that business owner may take on is that he/she may hire family members that may get lazy and start to slack on their job. A reward that a business owner may take is that he/she may be running the business well and may get known by a major company.
I would want to be the entreprenuer because I feel that I can take upon the job and make everyone comfortable with their work hours and the money they are recieving, and everyone will be happy with their job.
I feel like I did well on the Formative Assessment because I was focused on the lesson and was really paying attention to the material, I feel like I mastered the standard.
