Question

What is an opportunity cost of cancellong cable?
Ms. Sue
watching a lot of channels

http://www.investopedia.com/terms/o/opportunitycost.asp
Anonymous
What's a factor of production? Can you put it in simple words please?
Ms. Sue
http://www.investopedia.com/terms/f/factors-production.asp
Anonymous
So it would be entrepreneurship right? (Business)
Ms. Sue
Entrepreneourship is ONE factor of production.

Anonymous
Sorry, let me rephrase my question...
Cable would be entrepreneurship right?
Ms. Sue
No.

"The entrepreneur is the individual who takes an idea and attempts to make an economic profit from it by combining all other factors of production. The entrepreneur also takes on all of the risks and rewards of the business."

-- From the above website
Anonymous
Is a good or service something that us as people get?
Ms. Sue
Yes.

Anonymous
So then it'd be labor..
Ms. Sue
Labor is ONE of the factors of production.
Anonymous
I meant capital, sorry. Which is why I asked about goods and services.
Ms. Sue
Capital is a factor of production.

Anonymous
Cable would be a capital
Ms. Sue
Please explain. I don't know what you mean.
Anonymous
"If cable TV were a factor of production, which factor of production would it be and why?"
Ms. Sue
IF cable TV were a factor of production, it would probably be classified as labor.

What does your book say?
Anonymous
It's an article..
webpronews(dot)com/deliotte-media-study-2012-01
Ms. Sue
I don't understand what that article has to do with your questions.

http://www.webpronews.com/deliotte-media-study-2012-01