Explain how Entrepreneurs are risk-takers
Explain how Entrepreneurs are risk-takers?
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They coordinate the activities of the other three inputs for profit—or loss, which is why they are called risk-takers. Entrepreneurs sometimes manage companies that they own, but a manager who is not an owner is not necessarily an entrepreneur but may be performing some of the entrepreneurial functions for the company. Entrepreneurs are also innovators, or perhaps inventors, and profits help to motivate such activities.
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Patent rights: It is a unique license or right granted to a company or an Individual to make a specific product or utilize a specific technology.
Contrast how a market system and a command economy try to cope with economic scarcity?
Illustrate the several determinants of demand besides price which affect demand?
Illustrate Scarcity and choice of Economic Perspective?
Questions: 1: Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month? Explain your choice. Q : Writ short note on the Income of Writ short note on the Income of personal distribution?
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In perfectly competitive market, the market demand and market supply curves are provided by Qd = 1000 −10Pd and Qd = 30Ps. Assume that the government gives a subsidy of $20 per unit to each and every seller in the mark
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