The Only Real Purpose of a Business Is to Make

question 72

True/False

The only real purpose of a business is to make money for entrepreneurs.
Businesses don't just make money for entrepreneurs.Businesses provide all of us with necessities such as food,clothing,housing,medical care,and transportation,as well as other goods and services that make our lives easier and better.

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Definitions:

Preset Level

A predetermined or established level or standard that needs to be achieved or which serves as a benchmark for performance or operation.

Implicit Favorite

An unspoken preference or bias towards a particular option or choice in decision-making processes.

Escalation of Commitment

A psychological process whereby an individual continues to support a failing course of action due to cognitive biases, loss aversion, and sunk costs.

Decision-making Skills

The ability to evaluate information, consider alternatives, and choose the most appropriate course of action.