Which of the following resources are examples of what economists refer to as "entrepreneurship?"

You must select all that apply.

Question 9 options:

	A)A chef who develops her own recipes and starts her own successful restaurant offering her own unique menu.
	B)A field used by a farmer to grow wheat.
	C)An inventor who develops, produces, and markets a new product.
	D)A skilled machinist.

Solutions

Expert Solution

A,B and C, all three options are correct.

EXPLANATION :

As we know that , enterpreneurship is the setting up of business, bearing most of the risks and enjoying most of the rewards.

OPTION A is correct.

REASON : She is trying to set her own business and taking a risk in the hope of profit.

OPTION B and C are also correct.

REASON : In both the cases, they are trying to provide a new service or open up a new business in hope of profit.

OPTION D is incorrect.

REASON : A person is skilled in operating a machine.

Rahul Sunny answered 2 years ago

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