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It is, in effect, a bird's eye view rather than a worm's eye view.” (The Free Library, 2000)

Factors of production, all natural, human, and manufactured resources that go into the production of goods and services, four specific categories are land, capital, labor and entrepreneurial ability To produce a car we need labor as engineers, designers, paint sprayers, testers, we need land for the plant and the equipment, we need capital as tools, technology, machinery and we need entrepreneurship as managers who are the risk takers...

“Entrepreneurs are people who organize productive resources to make goods and services. The economists regard entrepreneurs as a specialist form of labor input. The success and/or failure of a business often depend on the quality of entrepreneurship. (“The Free Library, 2000”)

Opportunity cost, the amount of other products that must be forgone or sacrificed to obtain 1unit of a specific good...

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