Unformatted text preview: Labor is human resources – accountants, sales personal, any human being with a contract to the firm (financial capital) – the machines and the technology that goes into the firm, for example a computer The organizing principle behind the land labor and capital is the Entrepreneur The Entrepreneur is the risk taker who has an idea for a particular good or service, he’s gonna hire some labor, some capital, some land. And he’s gonna assemble it in a way that no one has. Entrepreneur is someone who sees things that people don’t normally see...
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This note was uploaded on 02/24/2011 for the course ECON ECON 201 taught by Professor Elzinga during the Spring '09 term at UVA.
- Spring '09