ECONOMICS
PRODUCTIVE RESOURCES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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entrepreneurship
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capital
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land
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labor
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Detailed explanation-1: -An entrepreneurial spirit will help you take ownership of your job. It means looking at your tasks and responsibilities and asking, “How could we do this better?” You can create processes to work smarter or pitch new ideas that will help your organization.
Detailed explanation-2: -Profit is an important incentive that leads entrepreneurs to accept the risks of business failure. Entrepreneurs are individuals what are willing to take risks in order to develop new products and start new businesses. They recognize opportunities, enjoy working for themselves, and accept challenges.
Detailed explanation-3: -Risk-taking enables and encourages innovation, which can be an important product/service differentiator. Failed risks aren’t always negative. Sometimes, they provide the most valuable business lessons an entrepreneur can learn. Failure helps shape future business strategies and can eventually lead to business growth.
Detailed explanation-4: -Learn about the challenges facing entrepreneurs as they start new businesses.