| Have you ever wondered what the 4 most important | | | | place; thus, making it difficult for an economy to grow |
| resources in any given economy are? | | | | and improve. |
| They go as follows: | | | | An entrepreneur is also an innovator; or, in other words, |
| 1. Land - which includes all the natural resources that | | | | somebody who creates from given resources. They |
| go along with it. | | | | collect what is available, and put it together to form |
| 2. Labor- people have to work to get anything done, | | | | something useful for all. If you have no creativity, you |
| right? | | | | may not be fit for entrepreneurial tasks. |
| 3. Capital- probably not what you're thinking; this | | | | Also, one of the reasons why the entrepreneurial ability |
| category isn't money! It includes tools and machinery, | | | | is such a scare resource is because the entrepreneur |
| and any other productive item. | | | | assumes ALL of the risk. What happens if the idea |
| 4. Entrepreneurial Ability- something unique and specific | | | | flops? What then? Does his or her family end up |
| to people! Not everybody has this! Do you? | | | | without means to survive? The greater the risk, the |
| Isn't interesting that any given economy must have | | | | greater the reward! Look at people like Bill Gates, |
| entrepreneurs! All the resources in the world, including | | | | Benjamin Franklin, Thomas Edison, and Henry Ford- |
| land, lumber, minerals, food, labor, and tools will create | | | | these are some of the greatest entrepreneurs and in |
| nothing without the entrepreneur. Those innovative | | | | order to bring us so many great things, these men had |
| minds create many of the luxuries that we enjoy | | | | to risk everything! |
| today; without them, we'd be without everything! | | | | It's clear that society could not have an effective |
| So what exactly does an entrepreneur do? | | | | economy unless the entrepreneurial ability existed |
| An entrepreneur, by simple definition, takes the initiative | | | | within its people. |
| in combining resources like land, labor, tools, and other | | | | If you have those qualities and have some ideas, don't |
| items to produce some sort of service or product. | | | | hesitate to create! Your contributions will promote |
| They are the ones that start everything! If you don't | | | | change and improvement in an ever growing |
| have an entrepreneur, no advances in society take | | | | economy! |