You choose to study instead of playing games with your friends. The opportunity cost is the enjoyment and socializing you could have had by playing games with your friends. Business activity involves producing goods and services to meet people's needs and wants. However, people's wants are unlimited while resources for production are limited. This creates an economic problem because there are not enough resources to satisfy all wants. Limited resources mean businesses must make choices about which goods and services to provide, and individuals must consider opportunity costs when making decisions about how to use their resources.

1. Business Activity - 9A (8 august-13.35-14.10)

2. Business activity
The process of producing goods and services to satisfy the customer
that meet their needs and wants
Need : any good or service which people must have to be able to live -
> water, food, shelter, clothing are essential need for living
Want: good or service that people would like to have. It not essential
for living. Exp: car, holiday

3. OUR WANT IS UNLIMITED
HOW?
Produce more good
and service…..but…..

4. HOWever the limited
resources in production to
meet the need and want ->
the number of population
not comparable

5. The unlimited wants
of customer can’t be
satisfied because the
factor of production
required to produce
the goods and
services to meet those
wants are LIMITED.

6. Factor of Production
p11

9. Economic
Problem
UNLIMITED WANTS CAN NOT BE MET
because there are limited factor of
production, so this create Scarcity
(Kelangkaan)

11. ANSWER

13. ANSWER

14. AC
DISCUSSION:
ACTIVITY 1.3
P.12

16. ➔ WE ARE MAKE CHOICES IN OUR
EVERYDAY LIVES.
When me make choice we have to sure that
we have enough resources.
When you making decision you need to make
sure that product or service you choose is
worth more that the one you give uo.
The next best alternative you give up is know
as the Opportunities cost.

17. OPPORTUNITY COST
The benefit that could have been
gained from an alternative use the
same resources.
Tip
There is always
Alternative gain

18. Example