Research Shows That Entrepreneurs with Prior Knowledge of an Industry

question 5

True/False

Research shows that entrepreneurs with prior knowledge of an industry or market are more likely to recognize opportunities than entrepreneurs who do not have such knowledge.

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Definitions:

Normative Economic

An approach in economics that expresses value judgments about what the economy should be like or what particular policy actions should be recommended to achieve a desirable goal.

Welfare Payments

Government-provided financial assistance to individuals or families in need to support basic living expenses.

Homeless Persons

Individuals who do not have an adequate or permanent place to live, often lacking regular access to safe shelter.

Privatized

The transfer of ownership or control of a business or industry from the government to private individuals or organizations.