Unit 3 Entrepreneurship and the Economy

The driving force of the start-up process

What factor of production includes the human effort used to produce goods and services?

If something is in heavy supply but in short demand

What factor of production includes the ideas and decisions of the business owner?

If something is in heavy demand, but in short supply

What agency controls the economy and regulates the nation's money supply?

The Start-up Process that involves finding the availability of resources, and good markets

During what decade was there more government regulation and considered the "Decade of Entrepreneurship"?

Situations in which a change in price creates a change in demand

The amount of good or services producers are willing to provide

What factor of production includes the equipment, building, tools, and other goods needed to create a product

Situations in which a change in price has very little effect on demand for products

The quantity of goods or services that consumers are willing and able to buy

Specially designated areas of a community that provide tax benefits to new businesses

An intangible product that satisfy customers' wants and needs.