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In a Short Essay, Define 'Entrepreneurship' and Discuss the Three

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Essay

In a short essay, define 'entrepreneurship' and discuss the three important themes that are prominent in this definition of entrepreneurship.


Definitions:

Selling

The process of promoting and transferring goods or services to the customer in exchange for payment.

Administrative Expenses

Costs related to the general management and administration of a business, such as office salaries and utilities.

Food and Supplies

Items necessary for operating a service such as a restaurant, including both consumable goods (food) and non-consumable items (supplies).

Flexible Budget

An adjustable budget that changes in response to variations in actual revenue or production levels, allowing for a more accurate comparison of expected and actual expenses.

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