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טקסט Storyboard

  • Son, as I pass down my business. I feel you children need to know the 3 most important things to know about running a business. Your sisters are on their way.
  • Alright PAPA
  • First things first, I am telling you about scarcity. Resources may be limited and this affects what we produce, how we produce it, and for whom.
  • yes.
  • So we as a business must make choices based on what the consumers want amd need
  • But how do we make those choices?
  • You have to look at the factors of production. This is resources, land, capital, labor, and entrprenuership.
  • yes.
  • sorry we were eavesdropping.
  • Isn't an entrepreuer a person that uses those other things in order to make a new product?
  • Well firstly resources are necessary to produce what the poeple want or need. Land is society's limited natural resource, like animal life, minerals in rings etc.
  • Okay but how does these things contribute to our production?
  • Wow cool. But what the heck is capital?
  • And what does labor have anything to do with it?
  • I think labor is the work done by workers to get the product produced
  • yes.
  • yes.
  • And isn't capital the stuff needed to produce goods or services? Like machines to make car parts?
  • Don't say that..
  • Ah I see.
  • We really busting it down on this business stuff.
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