economic systems and decisions
Post on 01-Dec-2014
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Economic Systems and DecisionsChapter 1
Krishna PolasaniPrinciples of Business
Needs• NeedsHouseFood Job
Wants
• Iphone• Lexus • Want to own McDonalds'
Goods
• Goods are the things that you can see and touch.
• Services are activates that are consumed at the same time they are produced.
Natural Resources
RocksWaterOil Refinery
Human Resources
• Truck Drivers• Entrepreneur• Farmer
Capital Resources
• Buildings• Manufacturing Goods• Payroll
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