ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mateo worked hard every day at a grocery store, so his boss gave him a raise.
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Benjamin invested all of his money in the stock of a very popular coffee company.
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Maria wanted a new smartphone, so she saved her paychecks until she could afford it.
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Kara learned to code and started a company designing websites for other businesses.
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Detailed explanation-1: -The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes.
Detailed explanation-2: -Schumpeter stressed the role of the entrepreneur as an innovator who implements change in an economy by introducing new goods or new methods of production. In the Schumpeterian view, the entrepreneur is a disruptive force in an economy.
Detailed explanation-3: -The original entrepreneurs were traders and merchants. The first known instance of humans trading comes from New Guinea around 17, 000 BCE, where locals exchanged obsidian, a black volcanic glass used to make hunting arrowheads for other needed goods. These early entrepreneurs exchanged one set of goods for another.
Detailed explanation-4: -Theorists Frank Knight and Peter Drucker defined entrepreneurship in terms of risk-taking. The entrepreneur is willing to put his or her career and financial security on the line and take risks in the name of an idea, spending time as well as capital on an uncertain venture.