In economics, the entrepreneur is the person who
a. acts as the go-between among different manufacturers.
b. puts together land, labor, and capital and tries to make a profit.
c. is a shrewd business executive who works as a consultant to other businesses to show them more profitable methods of operation.
d. is a visiting diplomat from France.
b. puts together land, labor, and capital and tries to make a profit.
You might also like to view...
When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
An economic system answers the ________, ________, and _________ questions
a. when to produce, where to produce, why we should produce b. wealth, greed, power c. money, markets, the business cycle d. what to produce, how to produce, for whom to produce
The fact that some resource prices are fixed by contracts helps explain why firms _____
Fill in the blank(s) with the appropriate word(s).
A change in the price of a product will change the supply of that product.
Answer the following statement true (T) or false (F)