While One Must Be Careful to Avoid Too Many Generalizations

question 77

Multiple Choice

While one must be careful to avoid too many generalizations about entrepreneurial traits or characteristics,which one of the following characteristics would not normally be associated with successful entrepreneurs?

• A)being able to see and seize a commercial opportunity
• B)planning for the venture's future
• C)only being able to see an opportunity after it ceases to be one
• D)being optimistic about the venture's success

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Definitions:

Fixed Input

Resource in production that cannot be changed in the short term, such as buildings and machinery.

Long Run

A period in which all factors of production and costs are variable, allowing for full adjustment to any change in market conditions.

Manufacturer

An entity engaged in the conversion of raw materials or components into finished goods for sale.

Total Product Curve

A graphical representation showing how the total quantity of output of a good or service varies with the amount of a variable input used in production.