Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Define entrepreneurship and distinguish it from entrepreneurship and clearly differentiate .
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Introduction
In order to produce goods and services, different factors of production are required. These include capital, land, labour, and entrepreneurs. In the process of generating products and services, labour is a crucial component of production. The use of capital equipment to generate things is made possible by labour, which complements capital. Through wages and salaries, labour is paid for its services.
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