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Fundamentals vocab 1 Flashcards | StudBud

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What are the four categories of productive resources?

What is the main motivation for someone to start a business/become an entrepreneur?

Fundamentals vocab 1

4 terms·StudBud Administration·51 plays

An economics quiz for the first few terms of the unit.

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Questions 4

Answers

1
What is the main motivation for someone to start a business/become an entrepreneur?
Money
Freedom
Profit
Time
2
What are the four categories of productive resources?
Physical, Human, Entrepreneurship, Money
Land, labor, capital, entrepreneurship
Labor, Land, Opportunity, Money
Land, Money, Workers, Entrepreneurship
3
What is the term used to describe the resources needed to produce goods and services?
Productive Resources
Physical Capital
Human Capital
Capital Resources
4
What is the fundamental problem of econ that there are unlimited wants and limited resources
Productive Resources
Profit
Economics
Scarcity