Which of the Following Statements Is True of Necessity Entrepreneurship

question 10

Multiple Choice

Which of the following statements is true of necessity entrepreneurship in high-income countries?

• A) The rate of necessity entrepreneurship is low.
• B) The risks of necessity entrepreneurship are low.
• C) Necessity entrepreneurship is a major contributor to the nation's economy.
• D) Necessity entrepreneurship occurs when there are several sources of income.

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Definitions:

Rice and Beans

A staple food dish in many cultures around the world, consisting of rice and beans as the main ingredients.

Complements

Goods or services that are typically consumed together, where the increase in the price of one leads to a decrease in demand for the other.

Linear Demand Curve

A graphical representation of demand where a straight line shows a constant relationship between quantity demanded and price.

Unit-Elastic

A situation in which a product's price elasticity of demand is exactly one, indicating that the change in quantity demanded is directly proportional to the change in price.