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Entrepreneurship Chapter 2.1 Flashcards | StudBud
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Entrepreneurship Chapter 2.1
Entrepreneurship Chapter 2.1
10 terms
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StudBud Administration
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#entrepreneurship #chapter 2
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Resources that are in very high demand or that have a limited supply will command high prices.
False
True
2
Economic resources are the means through which goods and services are produced.
False
True
3
There are 3 types economical of wants
True
False
4
Who developed the hierarchy of needs?
Timothy Nelson
Abraham Maslow
Abraham Madison
Michael Jackson
5
Noneconomic wants
Clothing, housing and cars.
sunshine, fresh air, exercise
6
Some economies have the resources necessary to satisfy all of the wants of all people.
False
True
7
Your wants are...
things you think you must have in order to start a business.
things that you must have in order to survive.
things that you think you must have in order to be satisfied
8
Select 1 of the types of economic resources entrepreneurs may use A.K.A. Factors of Production
Human Resources
Economic Resources
Capital Resources
Natural Resources
9
Your needs are...
things that you think you must have in order to be satisfied
things you think you must have in order to start a business.
things that you must have in order to survive.
10
Economic wants
sunshine, fresh air, exercise
Clothing, housing and cars.
