Month, He Or She Receives Dividends. (Dividends Are Profits. Profits Are Not a Factor Of

Name______Date______

Labor= The workers! Human resources. Those who run the machines that produce the products. They work for wages. They are paid by the hour.

Capital= Cash & Technology. Tools, machinery, and the factory. The money invested in newbusiness ventures. An investor turns over cash, receives stock ownership. Each

month, he or she receives dividends. (Dividends are profits. Profits are not a factor of

production.) The modern corporation was formed because of the need for capital.

Entrepreneurship= The person who organizes, operates, and assumes the risk for a business venture. Management! Those who decide what to produce, how much to produce, which marketto sell to, what price to charge, and how to advertise. The main goal of the entrepreneuris to keep profits high and production costs low. An entrepreneur could be aninventor; he definitely keeps up with the latest innovations. In order to keep ahead ofthe competition, the entrepreneur must invest in technology. To gain capital, he formsa corporation.

Natural Resources= Products and features of the earth that permit it to support life and satisfy people’s needs. Land, water, minerals - coal, iron ore, raw cotton.

1. The factory______

2. The workers______

3. Management______

4. Technology______

5. Raises capital______

6. Invests in technology______

7. Minerals______

8. Forms a corporation.______

9. Human resources______

10. Keeps profits high and production costs low______

11. Those who run the machines that produce the products.______

12. Cash that is invested______

13. They work for wages.______

14. They are paid by the hour.______

15. Tools and machinery______

16. He keeps up with the latest innovations.______

17. The money invested in new business ventures.______

18. The modern corporation was formed because of the need for this ______

19. Organizes, operates, and assumes the risk for a business venture. ______

20. Decides what to produce, how much to produce, which market to sell to______

21. Could be an inventor______

22. Must keep ahead of the competition______

23. Products and features of the earth that satisfy people’s needs. ______

24. Coal and iron ore______

25. Raw cotton______