What is Entrepreneurship?

• Entrepreneurship: The ability to make money from a business, that provides a service products, that can apply to many different markets.

• A person who has an idea, and is able to make a business based on that idea that can provide a service, need, want. (basically makes their idea into a business.)

• Entrepreneurship is a business company.

• an idea.

What is an entrepreneur?

• A person who invests in the stock market

• A person who studies entrepreneurship in college
• A person who works as an employee in a company
• A person who has an idea and creates it into a business, organises and operates it, taking on financial risk in the hope of profit. A person who invests in the stock market

What are some characteristics or an entrepreneur?

What are NEEDs and WANTs in a business?

What is a NEED in business?

• A need is something that people have when it comes to wanting something really badly.

• A need is something that people need to have to survive or need to maintain basic human functions.

• something I want and think I can't live without. (for example, and iPhone)

What is a WANT in business?

• A want is a certain thing that people need, and can't live without.

• A want is something people need.

• A want are goods and services that a person desires but doesn't need to have to live or satisfy their human needs.

What are the factors of production?

• Land

• Labour

• Hard-work

• Capital

• Entrepernuership

What is Land?

• Land: a land owned by someone, that can be bought

• Land: Raw materials extracted from nature. (natural resources)

• Land: the part of the earth's surface that is not covered by water.

• a country or state.

What is Labour?

• have difficulty in doing something despite working hard

• Labour: labor pregnancy.

• Labour: labour is the work done by humans. (jobs that are done by people).

What is Capital?

• Capital: money, Machinery, tools, buildings, technological parts.

• The capital of a country.

• Capitalism.