7 Capital= produced goods that can be used for further production Farm machinery, industrial tools, factoriesAlso, commonly, investment money
8 EntrepreneurshipThe special talent some people have for searching out and developing new ideasThe special talent for developing new products and new ways of doing things.But how is an entrepreneur different from an inventor?
9 Which category of resources identifies these? Frida’s work as a secretaryIron oreCrop-duster airplaneComputer used to write a bookComedian telling jokes on tvSinger in an out-door concertTeacherSomeone inventing and marketing a new goodCrude OilDeep sea oil platform
10 People need resources so they pay for them. We can describe that payment by using money.Monetary payments to Resources:
11 Monetary payments to Resources: Land RentLabor WagesCapital InterestEntrepreneurship Profit
12 Price = the sum of the monetary payments to resources
13 Economics is Everywhere Let’s Play a Game !!!Get side-by-side with your partner so you can see the screen.Write both your names on the top of a piece of paper. Include the period.Title your paper:Economics is Everywhere