Entrepreneurship: Factors of production

Описание к видео Entrepreneurship: Factors of production

0:00 Introduction
0:58 The study of economics suggests that we suffer from the problem of scarcity.
6:15 There are different types of production process.
14:59 People who establish businesses are known as entrepreneurs. In order to organise and engage in production four types of inputs are required.
20:56 The entrepreneur is the active factor of production, the person who anticipates the demand and who organises the production
27:20 The role of profits in the economy is as follows

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