The Economics of Income: If You're So Smart, Why Arent You Rich?
Printed on November 20th 2009
Capital Resources
Resources made and used to produce and distribute goods and services; examples include tools, machinery and buildings.
Entrepreneurship
A characteristic of people who assume the risk of organizing productive resources to produce goods and services; a resource.
Income
Payments earned by households for selling or renting their productive resources. May include salaries, wages, interest and dividends.
Natural Resources
"Gifts of nature" that can be used to produce goods and services; for example, oceans, air, mineral deposits, virgin forests and actual fields of land. When investments are made to improve fields of land or other natural resources, those resources become, in part, capital resources. Also known as land.
Glossary terms from: http://www.econedlink.org/lessons/index.php?lid=130&page=teacher