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Describe the Key Considerations an Entrepreneur Must Make While Performing

question 39

Essay

Describe the key considerations an entrepreneur must make while performing a risk analysis of a new business idea.


Definitions:

Attractiveness

The quality that makes something appealing or desirable.

Production Function

An equation that specifies the output that a firm can produce with various combinations of inputs, reflecting the relationship between input and output quantities.

Service Firms

Businesses that primarily offer intangible products, such as services or expertise, to their customers.

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