basic entrepreneurship

1. What is
Entrepreneurship?

2. ..it is the appropriation and
management of human,
physical and financial
resources for the purpose of
creating, implementing and
developing solutions that
meet the needs of individuals
and societies.
(Paul-A. Fortin, Devenez Entrepreneur,1992)

3. An entrepreneur is..

4. ..someone who is
capable of turning a
dream,

5. ..a problem or an
opportunity into a
viable business

6. ..a problem or an
opportunity into a
viable business

8. COMMON KEY
CONCEPTS IN
ECONOMICS

10. Need -
something that
is necessary for
survival.

11. Want - something
that you desire to
have, but is not
necessary for
survivial.

12. Commodities -
things to buy and
sell
*Goods are objects;
Services are actions

13. Scarcity
- the fundamental
economic problem of
having seemingly
unlimited human wants
& needs in limited
resources world

14. Possible Cause of
Scarcity

15. - Lack of natural
resources: Some
countries do not have
many resources (land,
water, oil etc.).

16. - Climate problems:
Weather can cause
scarcity. Crops can be
flooded, or affected by
drought.

17. - War: In war, crops are
often destroyed, people
displaced, transport and
trade disrupted, etc.

18. - Bad economic
management:
corrupt/inefficient
governments often
create scarcity (e.g.
Burma).

19. - Bad transport
infrastructure:
Inadequate road, rail
and air networks can
cause scarcity.

20. - Government policy:
some governments
make laws that create
scarcity (e.g. new cars in
Burma).

21. Bamboo, Wood,
Water, Oil, Minerals,
Agricultural land
(some resources that may be
scarce in the future)

23. 1. The price of mangoes in Mae
Sot rises from 20 to 100 baht per
kilogram in one week. Does the
demand for mangoes rise or fall?
Why? Answer: The demand for
mangoes will probably fall,
because they are more expensive
and fewer people can afford to
buy them.