Answered: 2. Describe what entrepreneurs do. 3.…

2. Describe what entrepreneurs do. 3. Define the three factors of production and the differences between physical and human capital. 4. Explain how scarcity affects the factors of production.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter1: What Is Economics

Section1.1: The Basic Problem In Economics

Problem 1R

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2. Describe what entrepreneurs do.
Define the three factors of production
and the differences between physical
and human capital.
3.
4. Explain how scarcity affects the factors
of production.

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