Why are entrepreneurs important in a market economy?

What will be an ideal response?


Entrepreneurs look for ways to create new products, improve existing products, or improve production processes, and they assume the risk of bringing goods and services to the market.

Economics

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In the nonstrategic view of bargaining

a. The first-mover usually gains more b. The second-mover usually gains more c. The third-mover usually gains more d. The outcome depends on which mover can commit to a strategy

Economics

A measure of the ease with which an asset can be converted into money without a significant loss of value is called liquidity

Indicate whether the statement is true or false

Economics

Contractionary policies are government stabilization policies intended to decrease:

A. population. B. unemployment. C. spending. D. average labor productivity.

Economics

According to Keynesians,

A. an increase in aggregate demand will lead to a higher average price level. B. an increase in aggregate demand will eventually lead to a higher average price level. C. an increase in aggregate demand will eventually lead to less real GDP. D. None of the choices are true of Keynesians.

Economics