Introduccion Flashcards
1
Q
Factores de produccion
A
land= all natural resources that are above the ground
capital (also known as physical capital)= machines, tools,
labor = all human effort, or work, that goes into producing goods and services ex the work done b teachers, builders, law ers, lumbers
entrepreneurship = the human effort used to organize the other three factors, as well as risk-takin , innovation, management.
scarcity = the condition of being limited in relation to the needs and wants of human beings: factors of production are scarce while human needs and wants are infinite;
2
Q
Las preguntas de la escacez
A
What to produce?
How to produce?
For whom to produce?
