Question

In: Economics

Which of the following is not a main function of the entrepreneur? to assume the risk...

Which of the following is not a main function of the entrepreneur?

  • to assume the risk of economic losses

  • to make strategic business decisions

  • to innovate

  • to make routine pricing decisions

Solutions

Expert Solution

Since an Entrepreneur is a person who puts money in the market for purchasing the factors of production and these are land, labor, capital and enterpreneur itself.

With the help of these factors he produces some goods and sells it and make profit or loss. If he makes profit, then he will continue otherwise shut down production.

The main function of the entrepreneur are ;

to assume the risk of economic losses

to make strategic business decisions

to innovate

An entrepreneur does not make routine pricing decisions.

Hence to make routine pricing decisions is not a funtion of entrepreneur.

Hence option fourth is the correct answer.

Rahul Sunny answered 2 years ago
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