If Rewards Are Mostly Based on Luck, the Incentive to Exert

question 20

True/False

If rewards are mostly based on luck, the incentive to exert effort will be low.

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Definitions:

Business Opportunities

Circumstances or situations that present potential for new business growth, expansion, or profitability.

Successful Entrepreneurs

Individuals who achieve their goals through innovation, risk-taking, and effectively managing their businesses, often resulting in profitable and sustainable ventures.

Competitors

Other businesses or entities that offer similar products or services, competing for the same target market or customer base.

Franchise

A business model that allows individuals or entities to operate a store or outlet using the branding, products, and operational methods of an established company.