An Entrepreneur

question 41

Multiple Choice

An entrepreneur

• A)always makes a profit
• B)generally avoids risky situations
• C)claims the residual (i.e., whatever is left over)after other resource suppliers are compensated
• D)is a parasite that benefits by not paying other resources for their services
• E)is the manager who runs an enterprise and keeps the customers happy

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Definitions:

Current Prices

Prices at which goods and services are sold in the market at the present time, not adjusted for inflation.

Technological Improvements

Advances or enhancements in technology that increase efficiency, productivity, or utility in various sectors.

Fracking

A method of extracting oil and natural gas from underground rock formations by injecting a mixture of water, sand, and chemicals at high pressure.

Natural Gas Industry

The sector of the economy that involves the exploration, extraction, processing, and selling of natural gas.