Examlex
Explain what entrepreneurship is and why it is considered a factor of production.
Henry Ford
American industrialist and founder of Ford Motor Company who revolutionized factory production with his assembly-line methods.
Market Orientation
A business philosophy where the focus is on identifying and meeting the needs and wants of customers through product innovation and customer satisfaction.
Natural Monopolies
A market structure where a single firm can provide a good or service to an entire market at a lower cost than if there were multiple firms due to economies of scale.
ROI
Return on Investment, a performance measure used to evaluate the efficiency or profitability of an investment.
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