what does resources mean in business? Watch

username3590460
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can someone give me a simple answer with an example
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abstractly01
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(Original post by FloralLuxe)
can someone give me a simple answer with an example
An economic or productive factor required to accomplish an activity, or as means to undertake an enterprise and achieve desired outcome. Three most basic resources are land, labor, and capital; other resources include energy, entrepreneurship, information, expertise, management, and time.
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(Original post by abstractly01)
An economic or productive factor required to accomplish an activity, or as means to undertake an enterprise and achieve desired outcome. Three most basic resources are land, labor, and capital; other resources include energy, entrepreneurship, information, expertise, management, and time.
What does enterprise mean? What does Capital mean? What does economic mean?bwhat does expertise and entrepreneurship mean ?? I'm really stupid
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(Original post by FloralLuxe)
What does enterprise mean? What does Capital mean? What does economic mean?bwhat does expertise and entrepreneurship mean ?? I'm really stupid
Enterprise is like the idea of the business e.g.- tourism. Capital is the finance or machinery of the business. Economic factors are land, labour and capital. Expertise means specialisation in a certain area. Entrepreneurship is the risk taking ability and the ability to organise factors of production.
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(Original post by abstractly01)
Enterprise is like the idea of the business e.g.- tourism. Capital is the finance or machinery of the business. Economic factors are land, labour and capital. Expertise means specialisation in a certain area. Entrepreneurship is the risk taking ability and the ability to organise factors of production.
Thank you. Do you mind defining at least some of these in the same way:
Production
Labour
Tax
Interest
Profit
Trade credit
Manufacturer
Consumer
Services (in business )
Bought in materials
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(Original post by FloralLuxe)
Thank you. Do you mind defining at least some of these in the same way:
Production
Labour
Tax
Interest
Profit
Trade credit
Manufacturer
Consumer
Services (in business )
Bought in materials
Labour is any mental or physical effort pit in the business by somebody. Production is the number of units produced. Profit is the revenue less costs made by the business. Consumer is the buyer. Trade credit is buying goods but paying for them on a later date.
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(Original post by abstractly01)
Labour is any mental or physical effort pit in the business by somebody. Production is the number of units produced. Profit is the revenue less costs made by the business. Consumer is the buyer. Trade credit is buying goods but paying for them on a later date.
What's revenue and a unit? Also,what's an example of Labour?
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(Original post by FloralLuxe)
What's revenue and a unit? Also,what's an example of Labour?
Revenue is the amount of money made by a business by selling products. A unit is one piece of good (product). Labour e.g.- managers, road sweepers, clerks any human helping the business comes under labour
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(Original post by FloralLuxe)
can someone give me a simple answer with an example
I think this website will probably help you if you still have difficulty I will try to help whenever I can :
https://articles.bplans.com/business-term-glossary/
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(Original post by abstractly01)
Revenue is the amount of money made by a business by selling products. A unit is one piece of good (product). Labour e.g.- managers, road sweepers, clerks any human helping the business comes under labour

Thank you so much!!

(Original post by abstractly01)
I think this website will probably help you if you still have difficulty I will try to help whenever I can :
https://articles.bplans.com/business-term-glossary/
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