Chapter 21: Entrepreneurship

Productive resources are things that are necessary to produce goods and services! ​

​The productive resources are:

• Natural Resources

• Human Resources

• Capital Goods​

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​Productive Resources

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Natural resources are resources that come from nature. ​

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Examples are:

-Wood from trees

- Coal and iron from the earth​

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​Natural Resources

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Human resources are people who help produce goods and services. ​

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Examples are:

• Farmer

• Doctor

• Grocery Store Worker​

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​Human Resources

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Capital goods are human-made materials needed to produce goods and services. ​

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Examples are:

• Factories

• Computers

• Tools

• Machines​

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​Capital Goods

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An entrepreneur is an individual who organizes different productive resources to produce goods and services. ​

They make these goods and services to make a profit​.

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​What is an Entrepreneur?

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• Being your own boss

• Enjoyment and excitement

• Flexibility and freedom

• Being rewarded for success​

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​Benefits of Being an Entrepreneur

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• Tough competition

• No regular money income

• Tough work schedule

• Stress​

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​Risks of being an Entrepreneur

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