The Timmons Model Shows Us That at the Heart of the Entrepreneurial

question 14

Short Answer

The Timmons Model shows us that at the heart of the entrepreneurial process is the _____.

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Definitions:

Expansionary Gap

A situation where the actual output of an economy exceeds its potential output, typically characterized by increasing prices.

Self-corrects

Refers to the ability of a market or economic system to automatically adjust and return to equilibrium without outside intervention.

Active Approach

A strategy or method that involves direct engagement and proactive measures in addressing issues or tasks.

Passive Approach

A strategy or method where actions and decisions are reactive rather than proactive, often characterized by minimal or no intervention.