To be economically successful, the entrepreneur must
a. combine resources in a manner that increases their value.
b. produce a good that consumers value less than the resources used to produce it.
c. use only personal financial capital to avoid the interest payments that would have to be paid if the money is borrowed from the bank.
d. transform or rearrange resources to maximize the entrepreneur's cost of production.
A
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Refer to Figure 11.5. A decrease in the marginal propensity to import is best illustrated by diagram
A) A. B) B. C) C. D) D.
Opponents of using policy to stabilize the economy generally believe that
a. neither fiscal nor monetary policy have much impact on aggregate demand. b. attempts to stabilize the economy decrease the magnitude of economic fluctuations. c. unemployment and inflation are not cause for much concern. d. economic conditions can easily change between the start of policy action and when it takes effect.