INTRODUCTION TO ENTREPRENEURSHIP
CHARACTERISTICS OF AN ENTREPRENEUR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Land, Labor, Capital, Energy
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Land, Opportunity, Cost, Franchise
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Natural Resources, Startup venture, supplies, materials
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Land, Labor, Capital Entrepreneurship
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Detailed explanation-1: -The factors of production are land, labor, capital, and entrepreneurship. The state of technological progress can influence the total factors of production and account for any efficiencies not related to the four typical factors.
Detailed explanation-2: -Economists define four factors of production: land, labor, capital and entrepreneurship.
Detailed explanation-3: -The four factors of production in economics include land, capital, labor, and entrepreneurship or enterprise. Modern economics considers time and information also part of these factors. These factors comprise various resources or inputs needed to generate outputs, measured by the gross domestic product.
Detailed explanation-4: -The Four Factors of Production are Land, Labor, Capital, and Entrepreneurship.
Detailed explanation-5: -Land as a factor of production. As a factor of production, land can take on various forms-from raw property to commercial real estate. Labor as a factor of production. Capital as a factor of production. Entrepreneurship as a factor of production. 03-Feb-2023