46
Lesson 46 of 84 · Economics
Entrepreneurship: Starting Your Own Business
Entrepreneurs identify needs, develop products or services, and take risks to bring them to market. Many large companies started as small ventures by innovative entrepreneurs.
Key Facts
1
Needs are different from wants.
2
Supply and demand affect prices.
3
Trade connects people globally.
Check Your Understanding
Question 1
1 of 2What is the difference between needs and wants?