If It Is Cheaper in the Long Run to Use

question 249

Multiple Choice

If it is cheaper in the long run to use a new metal plow that lasts a long time than an inferior wooden plow that needs to be replaced often, then this is an example of

• A)a capital-using technology.
• B)a capital-saving technology.
• C)capital consumption.
• D)private capital flows.

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Definitions:

Entrepreneur

An individual who initiates, manages, and assumes the risks of a business or enterprise, aiming for economic profits.

Entrepreneurial Ability

The unique set of skills, insights, and attitudes necessary to identify opportunities and mobilize resources effectively to establish and grow a venture.

Passive Resources

Resources that are not actively managed but contribute to production or value through their existence or inherent attributes.

Entrepreneur

An individual who creates and manages a business venture in order to gain profit by taking on financial risks.