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- Chapter 1: What is Entrepreneurship Flashcards - Quizlet
what is entrepreneurship Learn with flashcards, games, and...
- Economics and Entrepreneurship Flashcards - Quizlet
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- Chapter 1: What is Entrepreneurship Flashcards - Quizlet
what is entrepreneurship Learn with flashcards, games, and more — for free.
Study with Quizlet and memorize flashcards containing terms like Economics definition, What are the three questions of economics?, what's a market? and more.
Which of the classical schools of economic thought saw the role of the entrepreneur as a creator of wealth? A) American: B) Austrian: C) British: D) French: E) German
Test your understanding of classical theories of entrepreneurship with this interactive quiz. Dive into key concepts such as market equilibrium and the role of innovation in competitive markets. Perfect for students and enthusiasts of economic theory.
Entrepreneurship is the process of discovering new ways of combining resources. When the market value generated by this new combination of resources is greater than the market value these resources can generate elsewhere individually or in some other combination, the entrepreneur makes a profit.
Classic entrepreneurs are risk-takers who start their own companies based on innovative ideas. Some classic entrepreneurs are micropreneurs who start small and plan to stay small. They often start businesses just for personal satisfaction and the lifestyle.