Asked by Anonymous

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

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?
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
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?
Answered by Anonymous
It's an article..
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
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