Answer:
command economy and capitalism
Explanation:
A command economy is a situation where the government determines what goods and services are produced in a state. The government formulate its production policies to achieve his goals and objective. The major advantage of a command economy is that is reduces the level of inequality in a state, as against the profit motive in capitalism. Examples of a command economy country is North Korea and Cuba
Capitalism is an economic state where private individuals own and controls factors of production to for profit motive. Private investors are given power by government to control labour, capital and land in the production process with little or no involvement by government. Examples of countries practicing capitalism includes USA, Chile, canada, etc.
<span>One is through innovation. New innovation meant new
jobs for the nation. One example is Bheki Kunene, a young entrepreneur of South
Africa. At age 27, he founded Mind Trix Media providing jobs and a profit. Next
is it improves economy by being able to partner with big companies in the other
countries.</span>
What is a common axiom for information technology professionals? Know the business. An axiom is a statement that is given to someone or something being established, accepted or knowledge. Those that work in information technology (IT), and really, any field need to know the business to succeed.
Answer:
An entrepreneur is a person who finds an economic opportunity in the market, and exploits it for his own benefit and the benefit of his employees and constomers by setting up a firm.
Explanation:
Three characteristic of an entrepreneur:
Opportunity seeking: entrepreneurs "scan" the market, seeking for market niches that have not been exploited.
Work-ethic: entrepreneurship is a difficult task, especially during the first years of the company. It demands very long work hours, and the entrepreneur must be willing to do that in order to be successful.
Risk-taking: entrepreneurs should evaluate risk when taking decisions, but they should not be the most risk-averse indidivuals. They have to take risks in certain situations because otherwise, they would not be able to become entrepreneurs at all.
