What is an opportunity cost of cancellong cable?
watching a lot of channels
http://www.investopedia.com/terms/o/opportunitycost.asp
What's a factor of production? Can you put it in simple words please?
http://www.investopedia.com/terms/f/factors-production.asp
So it would be entrepreneurship right? (Business)
Entrepreneourship is ONE factor of production.
Sorry, let me rephrase my question...
Cable would be entrepreneurship right?
No.
"The entrepreneur is the individual who takes an idea and attempts to make an economic profit from it by combining all other factors of production. The entrepreneur also takes on all of the risks and rewards of the business."
-- From the above website
Is a good or service something that us as people get?
Yes.
So then it'd be labor..
Labor is ONE of the factors of production.
I meant capital, sorry. Which is why I asked about goods and services.
Capital is a factor of production.
Cable would be a capital
Please explain. I don't know what you mean.
"If cable TV were a factor of production, which factor of production would it be and why?"
IF cable TV were a factor of production, it would probably be classified as labor.
What does your book say?
It's an article..
webpronews(dot)com/deliotte-media-study-2012-01
I don't understand what that article has to do with your questions.
http://www.webpronews.com/deliotte-media-study-2012-01