ECONOMICS
PRODUCTIVE RESOURCES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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SSEF1b A risk taker in search of profits is called an:
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businessman
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questionable individual
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financial investor
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entrepreneur
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Explanation:
Detailed explanation-1: -4-Entrepreneurs: a risk-taker in search of profits who uses the factors of production [resources] to create new businesses or bring new products to the market.
Detailed explanation-2: -An entrepreneur is someone who creates a business and potentially makes money and runs the business.
Detailed explanation-3: -Economists define four factors of production: land, labor, capital and entrepreneurship.
Detailed explanation-4: -Food, water, clothing, sleep, and shelter are the bare necessities for anyone’s survival. For many people, these basic needs can not be met without the aid of charitable organizations.
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