In order to prosper, entrepreneurs must
a. undertake projects that create wealth and increase the value of resources.
b. find ways to prevent technological change.
c. have their own wealth with which to finance projects that they want to undertake.
d. undertake projects that use resources that are more valuable than is the output they produce.
A
You might also like to view...
What will arise when negative externalities are present in a market?
a) Government will regulate the externalities in the market. b) Private costs will be greater than social costs. c) The market will not be able to reach any equilibrium situation. d) Social costs will be greater than private costs.
Suppose the market for cement is such that the government does not interfere in price determination but plays an important role in the provision of property rights
While there are a large number of buyers and sellers, everyone conducts transactions at a common market price. Which of the following statements is true about the structure of the cement market? A) The cement market is government regulated. B) All participants in the cement market are price makers. C) All transactions in the cement market are likely to be involuntary. D) The cement market is free and competitive.