ppt课件-productionpossibilitiesandopportunitycosts.pptVIP

This chapter discusses principles associated with What are the Factors of Production? Labor Capital Land Entrepreneurship What is Labor? The physical and intellectual effort of people engaged in producing goods and services What is Capital? Manufactured goods used to make and/or market other goods and services What is Human Capital? The knowledge and skills acquired by labor, principally through education and training What is Land? A natural-state resource such as real estate, grasses and forests, and metals and minerals Who is an Entrepreneur? A person who alone assumes the risks and unce