Entrepreneurship Differs from the Other Factors of Production Because It

question 179

Multiple Choice

Entrepreneurship differs from the other factors of production because it

• A) is not real.
• B) is the most important.
• C) has only existed since the new economy of the 1990s.
• D) is not traded in a factor market.
• E) is not paid.

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Definitions:

Greater Prosperity

An increased state of wealth, success, or economic well-being.

Trade

The exchange of goods or services between individuals, businesses, or countries.

Lower Opportunity Cost

The advantage of choosing an option that has a relatively smaller loss of potential gain from other alternatives.

Trade

The exchange of goods and services between people or entities, often involving the transfer of money.