Econ 101 csulb midterm Question and answers 100% correct 2024

Econ 101 csulb midterm Question and answers 100% correct 2024 Econ 101 csulb midterm A good - correct answer anything that gives a person utility or satisfaction either tangible or intangible A bad - correct answer gives person disutility or dissatisfaction 4 Resources - correct answer 1. Land 2. Labor 3. Capital 4. Entrepreneurship land - correct answer all natural resources used to produce goods and services Labor - correct answer consists of the physical and mental talents that people contribute to the production process Capital - correct answer consists of produced goods that can be used as inputs for further production Entrepreneurship - correct answer the talent that some people have for organizing the resources of land, labor, and capital to produce goods, seek new business opportunities, and develop new ways of doing things