Identify the four factors of production associated

Reference no: EM133319061

Question: Conduct a simple cost-benefit analysis deciding whether or not you should get a frozen drink and hang out with your friends at a local coffee shop. Make sure to use and define the following terms regarding your choice: scarcity, opportunity cost, cost, benefit, good, service, wants, needs. Identify the four factors of production associated with your local coffee shop by providing examples. Describe the potential positive and negative externalities associated with visiting a local coffee shop, buying a drink, and hanging out with friends.

Reference no: EM133319061

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