| Prosperity |
Includes money, possessions, opportunities available, your health and wellness, how others treat you, and the freedom to make your own decisions. |
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| Comparative Advantage |
A country or individual has comparative advantage if they can produce a good or provide a service for the lowest cost. |
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| Factors of Production |
Productive resources needed to produce goods and services. The four resources are: land (natural resources), capital, labor (human resources), and entrepreneurship. |
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| Capital |
Tools, equipment, or other manufactured goods used to produce other goods and services. |
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| Entrepreneurship |
Risk taking individuals who introduce new products or services to the market, in search of a profit. |
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