Chapter 21 Flashcards
productive resources that come from nature, such as water and land
natural resources
human-made materials needed to produce goods and services
capital goods
an amount of money lost by a business or organization
loss
the employers and employees who help produce goods and services
human resources
a person who has an exceptional ability to plan or have ideas for the future
visionary
money that is made in a business after all costs and expenses are paid
profit
the possibility of chance of loss, danger or injury
risk
a situation where multiple people or orginazations try to outperform each other
competition
a person who takes the risk to produce a new or better good or service in hope in gaining profit
entrepreneur
a resource used to produce a good or service
productive resource
