Entrepreneurs have a strong incentive to
A) discover new production techniques that reduce costs.
B) introduce new products that are highly valued relative to their cost.
C) produce goods that are valued more highly than the resources required for their production.
D) do all of the above.

Question

Quizplus · Accepted Answer

Entrepreneurs are motivated to innovate and improve efficiency to maximize profits, which includes reducing costs, introducing valuable products, and ensuring that the value of goods produced exceeds the cost of resources used.

Entrepreneurs Have a Strong Incentive to