Econ Exam
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Terms in this set (21)
1. Durable, physical, goods used to make other goods. "Any produced thing that can enhance a person's power to perform economically useful work."
2. Tools, Machines, Components used in production
3. Money or funds used by entrepreneurs and businesses to buy what they need to make their products or provide their services or to that sector of the economy based on its operation, i.e. retail, corporate, investment banking, etc.
4. Human Capital "The stock of competencies, knowledge, social and personality attributes, including creativity, embodied in the ability to perform labor so as to produce economic value.
2. Tools, Machines, Components used in production
3. Money or funds used by entrepreneurs and businesses to buy what they need to make their products or provide their services or to that sector of the economy based on its operation, i.e. retail, corporate, investment banking, etc.
4. Human Capital "The stock of competencies, knowledge, social and personality attributes, including creativity, embodied in the ability to perform labor so as to produce economic value.
