Economics Today and Tomorrow, Student Edition
1st Edition
ISBN: 9780078747663
Author: McGraw-Hill
Publisher: Glencoe/McGraw-Hill School Pub Co
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Question
Chapter 8, Problem 20AA
To determine
To ascertain the main reason of entrepreneurs that are capable to ahead huge financial risks to start new business.
Expert Solution & Answer
Explanation of Solution
Risk allows us to differentiate between leaders and people. Businessmen are motivated by the value of success and maintain their own aims. Owning a company doesn't give them any income constraints, so they'll win bonuses. Effective entrepreneurship entails risk taking. Countless businessmen risked bringing their companies to where they are now. Nevertheless, taking risks doesn't mean going blindly into business and then actually expecting good results, entrepreneurs are taking risks as it allows them to differentiate themselves from their rivals. Those who are willing to gamble are pioneers in today's competitive business environment, while others are left behind.
Economics Concept Introduction
Introduction: Benefit is an important incentive for entrepreneurs to take on the risks of failing businesses. Entrepreneurs are individuals willing to take chances when making new goods and setting up new companies.
Chapter 8 Solutions
Economics Today and Tomorrow, Student Edition
Ch. 8.1 - Prob. 1RCh. 8.1 - Prob. 2RCh. 8.1 - Prob. 3RCh. 8.1 - Prob. 4RCh. 8.1 - Prob. 5RCh. 8.2 - Prob. 1RCh. 8.2 - Prob. 2RCh. 8.2 - Prob. 3RCh. 8.2 - Prob. 4RCh. 8.2 - Prob. 5R
Ch. 8.3 - Prob. 1RCh. 8.3 - Prob. 2RCh. 8.3 - Prob. 3RCh. 8.3 - Prob. 4RCh. 8.3 - Prob. 5RCh. 8 - Prob. 1AACh. 8 - Prob. 2AACh. 8 - Prob. 3AACh. 8 - Prob. 4AACh. 8 - Prob. 5AACh. 8 - Prob. 6AACh. 8 - Prob. 7AACh. 8 - Prob. 8AACh. 8 - Prob. 9AACh. 8 - Prob. 10AACh. 8 - Prob. 11AACh. 8 - Prob. 12AACh. 8 - Prob. 13AACh. 8 - Prob. 14AACh. 8 - Prob. 15AACh. 8 - Prob. 16AACh. 8 - Prob. 17AACh. 8 - Prob. 18AACh. 8 - Prob. 19AACh. 8 - Prob. 20AACh. 8 - Prob. 21AACh. 8 - Prob. 22AACh. 8 - Prob. 23AA
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