Entrepreneurs Have the Incentive To

question 24

Multiple Choice

Entrepreneurs have the incentive to:

• A) follow the orders of the central planner.
• B) move resources into those industries with the lowest marginal costs.
• C) minimize marginal costs.
• D) move resources out of low-value industries and into high-value industries.

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Definitions:

Socialization

The process by which individuals learn and adopt the norms, values, and behaviors appropriate to their society or cultural group, essential for integration and functioning within their community.

Annette Lareau

A sociologist known for her work on social class influences on parenting styles and their impacts on children's lives.

Socialization

The process by which individuals learn and internalize the values, beliefs, and norms of their culture, becoming functioning members of society.

Life Course

A sociological concept that studies individuals and societal dynamics by examining an individual's lifetime, from birth through aging, within the context of their historical, cultural, and social experiences.