___________ is the owner of a business.
Entrepreneur
Labour
Producer
None of these
_________ is the difference between the selling price of a product or service and the cost of bought in materials and components.
Value added
Growth
Survival
__________ are needed to pay a return to the owners of the business.
Capital
Land
Profit
A _____________ is a good service essential for living.
Need
Want
Factors of production
___________ is the next best alternative given up by choosing another item.
Marginal cost
Opportunity cost
Fixed cost
The most common objectives are _____________ .
To make a profit
Limited liability
Both 1 and 2
A ___________ is a good or service which people would like to have, but which is not essential for living.
