According to Jean-Baptiste Say, the entrepreneur's task is to shift the factors of production - such as labor, capital and natural resources - "out of an area of lower and into an area of higher productivity and greater yield." In other words:
A) entrepreneurs are highly productive
B) entrepreneurs are generators of value in the economy
C) factors of production are moved from one country to another
D) factors of production tend to increase in value over time
E) the same resources can be more useful and valuable in new combinations and contexts
Correct Answer:
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Q1: In Chapter 1, economic thinking is discussed
Q2: According to Richard Cantillon, entrepreneurs were not
Q4: Jean-Baptiste Say is the man behind Say's
Q5: Say and Cantillon launched the notion of
Q6: Economic flow or circulation was introduced by
Q7: The term "homo economicus" - economic man
Q8: The book discusses two opposing systems of
Q9: Evolutionary development means that something changes gradually
Q10: In this context if something is dynamic,
Q11: Static, in this context, means that something
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