An entrepreneur is a person who does all of the following except
A. organizes and manages a firm.
B. turns a new idea or product into a business.
C. assumes the risk of a firm.
D. always makes a profit.
Answer: D
You might also like to view...
How would a decrease in the U.S. budget deficit affect the exchange rate in the market for dollars?
A) The exchange rate will not be affected by a change in the budget deficit. B) The exchange rate will decrease. C) The exchange rate will increase. D) The impact of the decrease in the budget deficit on the exchange rate cannot be predicted.
If the demand curve for a product is horizontal, then the elasticity of demand is: a. equal to zero
b. equal to one. c. greater than one, but less than infinity. d. equal to infinity.
What are the reasons for unequal distribution of income? List at least six reasons
If a 10 percent rise in airfares leads to a 5 percent increase in total expenditures on air travel, the price elasticity of demand for air travel in this range must be
a. 2. b. elastic. c. 0.5. d. inelastic.