Melina and Carl want to start an event management company that would provide local artists with a platform to showcase their talent and gain an audience. Melina and Carl are willing to invest their own resources in this project. In the context of factors of production, the given scenario exemplifies the concept of _____.
A) deployment
B) entrepreneurship
C) situational analysis
D) capital creation

Question

Quizplus · Accepted Answer

Entrepreneurship is the process of starting a new business or organization. It involves taking risks and investing resources in order to create something new. In this case, Melina and Carl are investing their own resources to start an event management company. This is an example of entrepreneurship.

Melina and Carl Want to Start an Event Management Company