Entrepreneurs May Also Perform a Managerial Role,but Their Overriding Responsibility

question 24

True/False

Entrepreneurs may also perform a managerial role,but their overriding responsibility is to use the resources of their organizations to accomplish their goals.

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Definitions:

Publicly Owned

Pertains to assets, properties, or businesses that are owned and operated by governmental entities.

Private Company

A business entity owned by private individuals or entities and is not traded publicly on the stock market.

Natural Monopoly

A market condition where due to high infrastructure costs or significant barriers to entry, a single company can supply a product or service more efficiently than any potential competitor.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, reflecting the true financial gain of a business.