The role of the entrepreneur in society is to
A) provide capital to the firm, which the management combines with labor.
B) bring the factors of production together and take the risks of producing output.
C) control the land upon which all production takes place and to get the most rent.
D) regulate what products are considered safe to market.

Question

Quizplus · Accepted Answer

The role of the entrepreneur is to identify opportunities, bring together resources (land, labor, and capital), and take risks in order to produce goods and services. Entrepreneurs often create value by introducing new products, technologies, or business models. They also create jobs and contribute to overall economic growth. Providing capital (choice A) is often the role of investors, while controlling land (choice C) is typically the role of landowners or landlords. Regulating product safety (choice D) is primarily the role of government agencies.

The Role of the Entrepreneur in Society Is to