land labor and capital

The human effort involved in the production of goods and services is known as

• Capital

• Land

• Entrepreneur

• Labor

All natural resources that go into production of a good and services

• Labor

• Land

• Capital

• Entrepreneurship

What is an entrepreneur?

• People who assume the risk of creating, organizing, and operating a business

• A person who works at a company

• A person who invests in Apple

• A financial analyst

Business entity that is easy to start and has a single owner.

• proprietorship

• partnership

• limited liability company

• corporation

Business entity with two or more owners that share the company's profits and losses.

• proprietorship
• partnership
• limited liability company
• corporation

Any reward or benefit that motivates people to do something.

• incentive

• money

• bonus

• financial gain

Process of examining the advantages and disadvantages of each available choice and then making a decision.

• cause and effect

• cost/benefit analysis

• marketing plan

• correlation analysis

You get a hair cut. 

• Good
• Service

You buy a book from a garage sale.

• Good
• Service

You hire someone to cut your lawn.

• Good
• Service