Tangible: Products that are phyical (aka goods) e.g things you can touch
Intangible: Products that are not phyical (aka services) e.g things you can't touch
Capital: This is needed to assist workers in the production of goods and services (Hint: these are made by humans
Labour: These are needed to make the business' product using the raw materials and goods provided. They have different abilities and levels of effort
Business failure: This might happen because there might not be a demand for the products this means the business won't generate any sales and cannot pay there rent and fail
Lack of security: If an entrepreneur has a regular job, and they decide to leave that job to open their own business this is a huge risk; They may have a mortgage, a car and other bills to pay also there may be insecurity of sales with falling consumer incomes
Financial loss: losing the intial amount invested,Starting a business can be a financial risk for the owner or the owner may put their own cash andother assets (e.g. a van) into a business
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