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BA 206 Macroeconomics Class The Role of the Entrepreneur

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Q:-What must an entrepreneur do to earn a profit? (2) How do the actions of firms earningprofits influence the value of resources? (3) What happens to the value of resources whenlosses are present? (4) If a firm making losses goes out of business, is this bad? Why or whynot?(1)Entrepreneurs are responsible for development of new products that can help anorganization to earn profits. New ideas related products posses significant risk offailures. Entrepreneurs take important decisions by figuring out which projects cangenerate profits Organizations invest their resources in new projects and products inhope of profits. The success of entrepreneur depends on customer`s acceptability ofnew product or idea (Gwartney D., Stroup L., Sobel S. & Macphresson A., 2011). In orderto earn profits entrepreneur should convert and rearrange available resources in waythat it increase their ...
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