Which Of These Individuals Can Be Considered An Entrepreneur

Question: Gross national income figures should be carefully evaluated because they don’t take into account differences in

Answer: The cost of living

Question: The country of Jinret is classified as having low human development (the quality of life is poor). This means its HDI is

Answer: A score of less than 0.5 on the HDI scale

Question: ______ is broadly defined as the development of new products, processes, organizations, management practices, and strategies.

Answer: Innovation

Question: Which of these individuals can be considered an entrepreneur?

Answer: Shondra started a company that processes plastic bags into fabric used in automobiles.

Question: When considering innovations and entrepreneurship, it can be said that

Answer: Innovations in production and business processes lead to an increase in the productivity of labor and capital

Question: Lindsey lives in a country where the state owns all the means of productions and there is little incentive for entrepreneurial activity. Lindsey lives in a

Answer: Planned economy

Question: In the country of Bolar, the state owns key industries such as energy and transportation. The rest of the industries are privately owned. Bolar is a ____ economy.

Answer: Mixed

Question: The country of Marita ensures strong legal protection of property rights. It is likely that the businesses and individuals in Marita will

Answer: Want to invest more in innovations

Question: According to economist Hernando de Soto, the key issue in the relationship between capitalism and property rights is the inability of owners to

Answer: Establish legal title on the property they own

Question: A nation would _______ as part of deregulation efforts.

Answer: Remove price controls