Although Successful Entrepreneurs Are More Tolerant of Uncertainty

question 89

Multiple Choice

Although successful entrepreneurs are more tolerant of uncertainty,

• A) they seldom start another business after a failure.
• B) they develop mental games to see themselves through the risk game, especially.
• C) they always protect themselves from failure by taking out lots of insurance.
• D) they strive to take calculated risks.

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Definitions:

Supply Curve

A visual display mapping out the link between how much of a good is supplied and its price.

Efficiency

The extent to which resources are used in the most effective way to produce goods and services, minimizing waste.

Equality

Equality refers to the state of being equal, especially in status, rights, and opportunities.

Total Surplus

Total surplus refers to the sum of consumer surplus and producer surplus in a market, representing the overall benefit that market participants gain from engaging in trade.