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Questions and Answers
Which of the following is NOT a characteristic of successful entrepreneurs?
Which of the following is NOT a characteristic of successful entrepreneurs?
- Ability to control large amounts of money (correct)
- Ability to coordinate resources
- Ability to promote capital formation
- Ability to make judgments and assume risks
What role does an entrepreneur play in a capitalist economy?
What role does an entrepreneur play in a capitalist economy?
- They eliminate uncertainty in the market
- They divert resources towards profit opportunities (correct)
- They make all economic decisions
- They control the economy
What is the main function of an entrepreneur in a dynamic profit-and-loss system?
What is the main function of an entrepreneur in a dynamic profit-and-loss system?
- To drive efficient discovery (correct)
- To promote capital formation
- To control the market
- To eliminate uncertainty
How does an entrepreneur help clear up uncertainty in the market?
How does an entrepreneur help clear up uncertainty in the market?
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What does Karl Marx describe as the system in which a small group of people control large amounts of money and make important economic decisions?
What does Karl Marx describe as the system in which a small group of people control large amounts of money and make important economic decisions?
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