BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Entrepreneurs take risks to start and run
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economic resources
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opportunity costs
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factors of prduction
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businesses
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Explanation:
Detailed explanation-1: -Risk-taking in entrepreneurship is the process of identifying, evaluating, mitigating, and trying out potential opportunities and strategies that may help you build or grow your business but could also lead to personal or professional loss.
Detailed explanation-2: -Entrepreneurs may find a certain strategy that works for them that no one else has taken advantage of because of the significant risk involved. If you succeed in something new, then you find a strategy in your niche that works without any competitors willing to do the same, at least for a while.
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