Which of the Following Statements Is True About Innovations and Entrepreneurship

question 75

Multiple Choice

Which of the following statements is true about innovations and entrepreneurship?

• A)A command economy creates greater incentives for innovation and entrepreneurship than a market economy.
• B)If a country's economy is to sustain long-run economic growth,the business environment must restrict entrepreneurial activity.
• C)A high level of entrepreneurial activity leads to a low level of innovation.
• D)Innovations in production and business processes lead to an increase in the productivity of labor and capital.
• E)Strong legal protection of property rights creates an unfavorable environment for innovation and entrepreneurship.

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Definitions:

Frequency Polygon

A graphical representation of the distribution of numerical data. It is a line graph of class frequencies plotted against mid-point values.

Normal Distribution

A bell-shaped distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence.

Outliers

Data points that significantly differ from other observations in a dataset, potentially indicating a measurement error or a different underlying process.

Central Tendency

A statistical measure that identifies a single value as representative of an entire distribution of data, aiming to provide a description of the set’s overall behavior.