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What are the three basic question-response formats?
Natural Resources
Raw materials and components found in the environment that can be used for economic gain, such as minerals, forests, water, and land.
Final Goods and Services
Goods and services sold to final, or end, users.
Entrepreneurial Ability
Entrepreneurial ability involves the skills and qualities that enable an individual to identify opportunities, take risks, and organize resources effectively to start and manage a business.
Sole Proprietorship
A business owned and managed by a single individual, with personal responsibility for all debts and legal actions.
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