The factor of production that organizes economic activity and bears the risk of success or failure in a business venture is:
A) labor.
B) capital.
C) entrepreneurship.
D) all of the above.

Question

Quizplus · Accepted Answer

Entrepreneurship is the factor of production that involves organizing economic activity, making key business decisions, and bearing the risks associated with the success or failure of a business venture. Entrepreneurs are responsible for innovation and the strategic direction of their businesses, distinguishing this role from labor (which provides human effort) and capital (which includes tools, equipment, and financial resources).

The Factor of Production That Organizes Economic Activity and Bears