Analyze how incentives and opportunity costs impact decision making, using examples from Kentucky history.
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Explain how trade between people and groups can benefit Kentucky.
Identify and describe what goods and services are produced in different places and regions in Kentucky.
Predict how producers in colonial Kentucky used the factors of production to make goods, deliver services and earn profits.
Predict a person’s change in behavior in response to incentives and opportunity costs.
Explain how people use incentives and opportunity costs to inform economic decisions.