You Are Advising the Owner of Smalltown Computer, a New

question 95

Essay

You are advising the owner of Smalltown Computer, a new, local computer repair store that also builds custom computers to order. Define 3-D printing and explain how it might be relevant to this business?

Understand the role of resources and capital in the production process.

Appreciate the necessity of economizing due to scarcity.

Recognize the implications of government spending and institutional constraints on economic outcomes.

Understand the basic concepts of production possibilities curves and opportunity costs.

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Definitions:

Necessities

Essential needs required for basic human survival and well-being, such as food, water, and shelter.

Entering U.S.College Students

Entering U.S. college students refers to individuals beginning their undergraduate education in colleges or universities in the United States.

Wealthy

Having an abundance of financial resources or valuable possessions, which affords a person or entity a high standard of living.

Personal History

The record or account of significant events and experiences in an individual's life.