Economic Resources Flashcards
1
Q
Define capital
A
The stock of goods used to make other goods and services
2
Q
Define enterprise
A
The individual(s) behind the business who think of the economic idea, show the initiative and take the risk
3
Q
Define renewable
A
A good which will never run out and can be replaced
4
Q
Define non-renewable
A
A good which will eventually run out and isn’t unlimited
