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Profit, Risk-Taking, and Entrepreneurs a. What is one measure of the success of a

Accounting: First Year Course | 1st Edition | ISBN: 9780078688294 | Authors: Glencoe ISBN: 9780078688294 416

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Accounting: First Year Course | 1st Edition

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Accounting: First Year Course | 1st Edition | ISBN: 9780078688294 | Authors: Glencoe

Accounting: First Year Course | 1st Edition

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Profit, Risk-Taking, and Entrepreneurs a. What is one measure of the success of a business? b. What is an entrepreneur? List two characteristics of an entrepreneur.

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Microeconomics Wednesday August 17 Week 1 notes: Intro to microeconomics Definitions: 1. Economics­ The study of the choices we make 2. Resources­ Inputs used to produce goods and services 3. Scarcity­ unlimited wants are greater than our resources  Economics ­ Why do we have to make choices We simply can’t do everything because of the scarcity of resources  Resources There are 4 main inputs in Economics: Labor, Land, Capital, and Entrepreneurship 1. Labor (human beings) ­ The 2 aspects of labor are quality and quantity. ­ In regards to quantity, More people = More production ­ Although, quality is the most important in regards to labor. The example referred to in class by Dr. Medc

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Textbook: Accounting: First Year Course
Edition: 1
Author: Glencoe
ISBN: 9780078688294

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Profit, Risk-Taking, and Entrepreneurs a. What is one measure of the success of a