Chapter 21 Entrepreneurship

Question 1

capital goods

Answer 1

the factories, machines, technology, tools, equipment, and any other man-made goods used to make other goods or services STUFF; HUMAN MADE

Question 2

competition

Answer 2

a situation where multiple people or organizations try to outperform each other

Question 3

entrepreneur

Answer 3

a person who takes the risk to organize resources to produce a new or better good or service in hopes of gaining profit

Question 4

human resources

Answer 4

the employers or employees who help produce goods and services PEOPLE; PEOPLE

Question 5

loss

Answer 5

the amount of money lost by a business or organization

Question 6

natural resources

Answer 6

a naturally made item, such as a tree, mineral, or fresh water, that people can use to help meet a need or want NATURE; NATURE
MADE

Question 7

productive resource

Answer 7

a resource used to produce a good or service

Question 8

profit

Answer 8

the money left over after a business has paid all of its expenses

Question 9

risk

Answer 9

the possibility of chance of loss, danger, or injury

Question 10

visionary

Answer 10

a person who has an exceptional ability to plan or have ideas for the future