PRC-3 · Chapter 1 · Question 15 of 61
Which of the following best describes the fundamental role of 'entrepreneurship' as a factor of production?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Organizing other factors of production and assuming business risk
Explanation
An entrepreneur is an individual who organizes land, labor, and capital to create goods or services, taking on the financial risk of the venture.
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