Asked by Anonymous
What is an opportunity cost of cancellong cable?
Answers
Answered by
Ms. Sue
watching a lot of channels
http://www.investopedia.com/terms/o/opportunitycost.asp
http://www.investopedia.com/terms/o/opportunitycost.asp
Answered by
Anonymous
What's a factor of production? Can you put it in simple words please?
Answered by
Ms. Sue
http://www.investopedia.com/terms/f/factors-production.asp
Answered by
Anonymous
So it would be entrepreneurship right? (Business)
Answered by
Ms. Sue
Entrepreneourship is ONE factor of production.
Answered by
Anonymous
Sorry, let me rephrase my question...
Cable would be entrepreneurship right?
Cable would be entrepreneurship right?
Answered by
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
"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
Answered by
Anonymous
Is a good or service something that us as people get?
Answered by
Ms. Sue
Yes.
Answered by
Anonymous
So then it'd be labor..
Answered by
Ms. Sue
Labor is ONE of the factors of production.
Answered by
Anonymous
I meant capital, sorry. Which is why I asked about goods and services.
Answered by
Ms. Sue
Capital is a factor of production.
Answered by
Anonymous
Cable would be a capital
Answered by
Ms. Sue
Please explain. I don't know what you mean.
Answered by
Anonymous
"If cable TV were a factor of production, which factor of production would it be and why?"
Answered by
Ms. Sue
IF cable TV were a factor of production, it would probably be classified as labor.
What does your book say?
What does your book say?
Answered by
Anonymous
It's an article..
webpronews(dot)com/deliotte-media-study-2012-01
webpronews(dot)com/deliotte-media-study-2012-01
Answered by
Ms. Sue
I don't understand what that article has to do with your questions.
http://www.webpronews.com/deliotte-media-study-2012-01
http://www.webpronews.com/deliotte-media-study-2012-01
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