0
Because entrepreneurial ability is directly engaged in production
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
Why is entrepreneurial ability considered a category of economic resource that is distinct from labor?
Because the entrepreneur; takes the initiative, makes strategic business decisions, innovates, and bears risk.Entrepreneurial ability is considered to be a completely separate factor of production.
Categories used to classify economic resources?
Land, Labor, Capital, and Entrepreneurial Ability
What is Entrepreneurial Ability?
Entrepreneurial ability is refers to the ability to be able to manage a business well. This is one of the most critical factors of production.
What is an example of a resource market?
Resource markets are when households sell and businesses buy, therefore, an example of a resource market is labor. Land, capital and entrepreneurial ability are also a few examples.
What list contains the four factors of production?
land, labor, capital, and entrepreneurial skills
What are elements of business system?
capital entrepreneurial ability land labor
What are the elements of business system?
capital entrepreneurial ability land labor
Why is entrepreneurial ability considered a category of economic resource that is distinct from labor?
Because the entrepreneur; takes the initiative, makes strategic business decisions, innovates, and bears risk.Entrepreneurial ability is considered to be a completely separate factor of production.
Categories used to classify economic resources?
Land, Labor, Capital, and Entrepreneurial Ability
What is Entrepreneurial Ability?
Entrepreneurial ability is refers to the ability to be able to manage a business well. This is one of the most critical factors of production.
What is an example of a resource market?
Resource markets are when households sell and businesses buy, therefore, an example of a resource market is labor. Land, capital and entrepreneurial ability are also a few examples.
What list contains the four factors of production?
land, labor, capital, and entrepreneurial skills
What does entrepreneurial ability mean?
Entrepreneurial ability refers to the skills, mindset, and capabilities a person possesses to identify opportunities, manage risks, and create value through starting and growing a business. It involves traits like innovation, risk-taking, vision, and the ability to execute ideas effectively. Successful entrepreneurs leverage their abilities to navigate challenges and turn ideas into successful ventures.
Southern colonies developed a distinct based upon?
Slave labor
The ability to respond to similar but distinct stimuli?
Stimulus Discrimination?
Which department does the Bureau of Labor Statistics fall under?
The BLS is distinct from the policy-making and enforcement activities of the Department of Labor.
How were knights of labor different to the American federation of labor?
the knights of labor lack ability to carry out successful strikes
