Define Entrepreneurship

question 86

Essay

Define entrepreneurship. How does this differ from the entrepreneurial process?

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Definitions:

Sellers' Costs

The expenses incurred by sellers in providing goods or services, including production, labor, and materials costs.

Good

A tangible product or item that satisfies some human want or need, which can be transferred or sold from one person to another.

Profits And Losses

A financial metric indicating the positive (profits) or negative (losses) financial outcomes of a business's operations.

Scarce Resources

Resources that are limited in supply and are not available in sufficient quantities to satisfy all the various ways a society wants to use them.