Question
Explain five ways in which the Entrepreneur contributes to the production of goods.
Answer
i) Identifies viable business opportunities
ii) Provides guidelines on how production should be organized
iii) Provides the capital necessary to carry on production
iv) Hires /provides all other factors of production v) Bears all the risks
vi) Decides how/ where/ when / what to invest in the business
vii) Rewards all the factors of production.
ii) Provides guidelines on how production should be organized
iii) Provides the capital necessary to carry on production
iv) Hires /provides all other factors of production v) Bears all the risks
vi) Decides how/ where/ when / what to invest in the business
vii) Rewards all the factors of production.
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