Entrepreneurship is
A. the financial capital necessary to launch a new business.
B. the talent to develop new products and processes and to organize production to make goods and services available.
C. unskilled labor.
D. the capital resources used to produce goods and services.
B. the talent to develop new products and processes and to organize production to make goods and services available.
You might also like to view...
In which countries are incomes distributed most unequally and least unequally?
What will be an ideal response?
Which form of business organization is the least common in the United States?
a. sole proprietorship b. partnership c. corporation d. nonprofit organization e. conglomerate
For a monopolist, marginal revenue is
a. equal to price b. greater than price c. less than price d. represented by a horizontal curve e. equal to average revenue
Adam Smith, in his book, The Wealth of Nations, advocated:
a. socialism. b. an economy guided by an "invisible hand." c. government control of the "invisible hand." d. the adoption of mercantilism.