Progressive Asian countries like Taiwan, Singapore, China, and Japan depend on big and small businesses to -their economy. They conserve their natural resources and help their people in starting big and small businesses in manufacturing and trading. We can be like them if only we begin to be more enterprising and be less dependent on employment.

As a person, you can practice entrepreneurship and learn the rudiments of business now, in the school. If  your family has a business, it is your advantage to see and experience the flow of business every day. Put your heart and mind in this unit, who knows you could be one of the young tycoons someday.


2. Computer

In primitive societies, the basic economic unit is the family or tribe, Economic activity is limit hunting, fishing, gathering or growing of crops, and making useful objects or tools.

The economics of ancient Greece and Rome were based on slavery. The word Economics comes from the Greek word dekonomia, meaning "management of the H household." Thus, economics started as home economics, and whoever managed the activity and material needs of the house was an economist. Economics today means a Social science concerned chiefly with the description and analysis of the production, distribution, and consumption of goods and services.

Free enterprise means people enjoy rights in carrying out economic activities such as owning private properties, making business, and producing goods and services.

When people work together to produce goods or service, to earn a living and satisfy the needs of man, they are creating business.

 Box, Business, Cargo, Client, Commerce 
Goods and Services

Because man has needs, economics has developed rapidly beyond the boundaries of the home. He began to provide himself with the goods and services which can satisfy his desires.

The freedom to produce goods and services for profit gives everyone the chance to own a business.
 A consumer buys goods and services. Consumers also have both wants and needs which include goods or products. Goods are material items such as food, clothing, and appliances.
Services are actions performed for someone else for money Such as a manicure or a haircut.

Examples of Goods

Examples of Services
Medical Care

The inputs that go into the production of goods and services are called resources. These resources can be classified into land, labor, capital, and entrepreneur.

1. Land - Land refers to all-natural resources, everything beneath and above it: minerals, water, spring, trees, animals, fish, and all forms of life.
They are either the raw materials used in production or the sources of raw materials.

2.Labor - All human beings who render services as in the processing of raw materials and products are engaged in services. The professionals are part of the labor resources.

Examples: teacher, carpenter, doctor, nurse, barber, vendor, etc.

3. Capital - Capital may be classified as a good (material) or investment (cash). Capital goods refer to the materials such as tools, machinery, equipment, and raw materials. Financial goods sent all the money received from the business.

4.Entrepreneur - An entrepreneur is a person who organizes the other forms of product (land, labor and capital) to generate goods and services which can satisfy the needs of man.