What provides the motivation for an entrepreneur to operate his or her business efficiently?
A) The right to vote
B) Private property rights
C) Competition
D) Privatization
E) Freedom of choice

Question

Quizplus · Accepted Answer

Competition provides the motivation for an entrepreneur to operate his or her business efficiently. This is because in a competitive market, customers can easily switch to a competitor if they are not satisfied with the service, quality, or price offered by the entrepreneur's business. Therefore, to retain customers and attract new ones, entrepreneurs need to ensure that their business is efficient, which includes factors such as delivering high-quality products or services, providing excellent customer service, and offering competitive pricing.

What Provides the Motivation for an Entrepreneur to Operate His