the role of businesses in society Flashcards
what is the name of the thing that is essential in order to survive?
need
what is something that humans can live without however they can make life more enjoyable?
want
what is something that we can see, touch, and pick up?
a good
what is something called when someone does something for us
a service
what are goods that can be used more than once?
durable
what is the name to give a good that can only be used once or for a short period of time?
non durable
what are capital, enterprise, land and labour apart of
factors of production
what happens when all the factors of production are all put together
starts a business
what factor of production includes:
money, tools and equipment invested into a business
capital
what factor of production includes:
the idea behind a business
enterprise
what factor of production includes:
the natural resources a business will use?
Land
what factor of production includes:
the employees of a business
Labour
who is someone that comes up with an idea for a business and combines the factors of production together to start the business
entrepreneur
true or false - a entrepreneur has to be famous
false
leadership
communication
organisation
problem solving
interpersonal
are all kinds of what used by who
skills used by entrepreneurs.
