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Economics

Ch. 21 Entrepreneurship

TermDefinition
productive resources the resources used to make goods and services
natural resources productive resources that come from nature
human resources the businesses and workers who help produce goods and services
capital goods the human-made materials needed to produce goods and services (i.e. money,, tools, buildings)
entrepreneur an individual who organizes different resources (natural, human and capital) to produce goods and services and willing to take a risk
profit money that is made in a business after all costs and expenses are paid
loss when a business spends more money than it makes
benefit something good you get or gain from making a choice
risk the chance that something you expect to happen with your money or things of value might not turn out as planned
Created by: user-1786183
 

 



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