Examlex
The trait approach assumes the existence of a leadership personality and assumes that leaders are born,not made.
Entrepreneurial Ability
The skill or capacity to identify opportunities, create new businesses, and innovate new products or services in the marketplace.
Opportunity Cost
represents the value of the next best alternative forgone as a result of making a decision.
Scarcity
The fundamental economic problem of having seemingly unlimited human wants and needs in a world of limited resources.
Economic Growth
is an increase in the production of goods and services in an economy over a period of time, often measured by GDP.
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