ENTREPRENEURIAL OPPORTUNITIES
IDENTIFYING AND EVALUATING BUSINESS OPPORTUNITIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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create a monopoly
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make a profit
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help the community
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reduce competition
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Detailed explanation-1: -Put bluntly, the capitalist provides capital by not consuming. Without capital much less production could occur. As a result, some profits are effectively the “wages” paid to those who are willing to delay their own personal gratification. Second, some profits are a return to those who take risks.
Detailed explanation-2: -It promotes and encourages businesses and private individuals to own capital goods. The main characteristics of this system include private ownership, the motive for profit, the ability for businesses to compete in the free market, and minimal intervention in government.
Detailed explanation-3: -Profit motive: The motive of earning profit is one of the most important drivers of a capitalist economy. In this system, all the companies are looking to produce and sell their products to consumers to earn maximum profit.