INTRODUCTION TO ENTREPRENEURSHIP
CHARACTERISTICS OF AN ENTREPRENEUR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The “gifts of nature” or natural resources not created by human effort.
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people with all their efforts and abilities
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the tools, equipment, and factories used in production of goods and services
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individuals who start a new business or bring a product to market.
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Detailed explanation-1: -Capital goods are physical assets that a company uses in the production process to manufacture products and services that consumers will later use. Capital goods include buildings, machinery, equipment, vehicles, and tools. Capital goods are not finished goods, instead, they are used to make finished goods.
Detailed explanation-2: -In economics, capital refers to the assets-physical tools, plants, and equipment-that allow for increased work productivity. By increasing productivity through improved capital equipment, more goods can be produced and the standard of living can rise.
Detailed explanation-3: -Capital is a broad term for anything that gives its owner value or advantage, like a factory and its equipment, intellectual property like patents, or a company’s or person’s financial assets. Even though money itself can be called capital, the word is usually used to describe money used to make things or invest.
Detailed explanation-4: -Capital goods are man-made, durable items used by businesses to produce goods and services. They include tools, buildings, vehicles, machinery, and equipment.
Detailed explanation-5: -Capital goods are a business’s physical assets that play a role in production, sometimes called property, plant and equipment (PPE).