What Are the Two Key Activities That Entrepreneurs Must Complete

question 128

Essay

What are the two key activities that entrepreneurs must complete when starting a new business? Explain what is involved in each of these activities.

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Definitions:

Risk of Loss

A legal term referring to who bears the financial burden if goods are damaged or lost during a transaction or shipment.

Contract

A contract that is legally enforceable and agreed upon between two or more entities.

Sale or Return

A sales agreement that allows the buyer to return unsold goods to the seller rather than pay for them, typically used in consignment deals.

Buyer's Use

The intended or actual application of a purchased product or service by the consumer.