Choose the statement that is incorrect.
A) Entrepreneurship is a factor of production.
B) Entrepreneurs receive the profit or bear the loss that results from their business decisions.
C) Entrepreneurship consists of all the gifts of nature.
D) Entrepreneurial services are traded in markets.
E) Both C and D are incorrect.
Correct Answer:
Verified
Q2: To maximize profit,the firm must equate the
A)wage
Q5: Firms hire labour
A)to minimize the average cost
Q6: To maximize profit,a firm hires labour until
A)there
Q8: An example of a nonrenewable natural resource
Q10: Suppose a gift shop in Corner Brook,Newfoundland,hires
Q13: The Brown's Egg store in Lethbridge,Alberta hires
Q15: Use the table below to answer the
Q18: Coal is an example of
A)a nonrenewable natural
Q19: The four factors of production are
A)productive factors,
Q21: Suppose a profit-maximizing firm hires labour in
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