Which of the following statements about entrepreneurship is the most accurate?
A) It is another word for physical capital that is used to produce goods and services.
B) It is human capital.
C) It is another word for the financial capital that can be used to start a business.
D) It is the resource that organizes the other factors of production in order to produce goods and/or services.

Question

Quizplus · Accepted Answer

Entrepreneurship is the factor of production that brings together the other factors (land, labor, and physical capital) to create goods and services. It is the individual who takes the risks of organizing and managing a business in order to make a profit. Physical and financial capital can be important inputs to entrepreneurship, but they are not interchangeable with it. Human capital refers to the knowledge, skills, and abilities of individuals, so while it can be an important factor in a business's success, it is not the same as entrepreneurship.

Which of the Following Statements About Entrepreneurship Is the Most