--%>

Entrepreneurs and business are at the helm of the economy

Explain the statements: Entrepreneurs and business are at the helm of the economy.

E

Expert

Verified

Entrepreneurs and business are at the helm of the economy, but their commanders are consumers. Although producers are free to choose what products they will produce, if the producers are to maximize profits, these good and services must be consumer’s desire.

   Related Questions in Business Economics

  • Q : Main philosophical foundations of

    Jeremy Bentham’s musings given main philosophical foundations for: (1) the abolition of slavery. (2) syndicalism. (3) free international trade. (4) feudalism. (5) utilitarianism. Can someone explain/help me w

  • Q : Describe four important areas to

    Describe four important areas to emphasize Expenditures?

  • Q : Introduction of the term Operating

    Give a brief introduction of the term Operating Leverage?

  • Q : Definition of Full Employment

    Definition of “Full Employment”?

  • Q : Regulate prices to ensure against

    Not between exact activities for government to undertake, according to Adam Smith, would be for the government to: (1) maintain public institutions and public works. (2) protect society by invasion. (3) serves as a medium for law and justice. (4) regu

  • Q : Inefficiencies and inequities by

    An employer that exaggerates the safety of a position or the prospects for advancement to job applicants makes inefficiencies as well as arguable inequities due to: (1) signaling. (2) credentialism. (3) screening. (4) adverse selection. (5) a moral hazard.

  • Q : Resource markets in simple circular

    Can someone help me in finding out the right answer from the given options. In resource markets in a simple circular flow model, house-holds exchange their _________ for _________. (1) Resources | income. (2) Goods | profits. (3) Labor | goods. (4) Devotion | enlighte

  • Q : Demand often exceeds supply and supply

    “In the corn market, demand often exceeds supply and supply sometimes exceeds demand.” “The price of corn rises and falls in response to changes in supply and demand.” Among these 2 statements used correctly which in the terms “supply&rdq

  • Q : Comment surpluses drives price

    surpluses drives price down,shortages drive up

  • Q : Define Operating income approach

    Describe briefly Operating income approach?