june exam Flashcards
1
Q
what is a government
A
a government is a group of people elected by the citizens of a country to govern or rule the country in the best interest of everyone living in that country
2
Q
capital
A
money contributed by the owner to start a business
interest
3
Q
labour
A
the work people do to produce goods and services
salaries and wages
4
Q
natural resources
A
refers to all the natural resources from nature
rent
5
Q
entrepreneurship
A
responsible for combining all the other factors of production to ensure that goods and serves are produced
profit
6
Q
skilled labour
A
workers who have been trained for a specific job
