The role of the entrepreneur in an economy is to
A)Bring the factors of production together and assume the risk of production.
B)Work with government planners to determine what goods are produced.
C)Arrange bank financing for the owners of new businesses.
D)Ensure full employment of labor.

Question

Quizplus · Accepted Answer

The entrepreneur is responsible for bringing together the factors of production (land, labor, and capital) and assuming the risk of production. This involves identifying market opportunities, organizing production processes, and making key business decisions. Entrepreneurs play a crucial role in driving innovation, creating new jobs, and promoting economic growth.

The Role of the Entrepreneur in an Economy Is to