The Role of Entrepreneurs Includes All of the Following, Except

question 67

Multiple Choice

The role of entrepreneurs includes all of the following, except

• A) forming start-up businesses.
• B) getting hired as the top executive of an established company.
• C) exploiting university and government scientific research.
• D) anticipating the future in pursuit of both monetary and nonmonetary rewards.

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Definitions:

Coefficient

A numerical or constant factor in an equation that multiplies the variable, indicating the degree or level of some effect.

Price Elasticity of Supply

The measure of how the quantity supplied of a good changes in response to a change in its price.

Midpoint Formula

A method used in economics to calculate the elasticity of a variable, often used to estimate the price elasticity of demand by averaging the start and end points of a demand curve.

Elastic

A characteristic of a product or service demand that indicates a sensitivity to price changes, where a small change in price leads to a significant change in quantity demanded or supplied.