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