Why are entrepreneurs considered both spark plugs and catalysts of the free enterprise economy?

1 answer:

3 0

<span>Entrepreneurs are considered to be both spark plugs and catalysts of the free enterprise economy because of a number of reasons. Everybody benefits and profits when an entrepreneur becomes successful. When an entrepreneur opens his or her search for profits, the effects would be a chain of events where new products, greater competition, more production, higher quality, and lower prices for consumers can be observed. An entrepreneur is said to be a spark plug in the free-market for there is that vision of providing a product or a service that people are willing to pay for, combined with the ability to produce that product or service at a cost below the market sales price which propels him/her to take action. Capitalism will not work if it were not for the entrepreneurs who take the risks and start the businesses that produce the goods and services we all enjoy.</span>

You might be interested in

Which type of market is the one in which a person buys their favorite breakfast sandwich at a fast-food drive thru? product mark

pogonyaev

The type of market is the one in which a person buys stock in type fast food company is Financial market.

What is Financial market?

Any location or system that gives buyers and sellers thew ability to trade financial assets such as bonds, shares, the various international currencies, and derivatives , is referred to as a financial market.

Why is financial market important?

Markets provide finance for companies so they can hire, invest and grow.
They provide money for the government to help it pay for new roads, schools and hospitals.
They can help lower the costs you face buying food at the super market, taking out a mortgage or saving for your retirement.

Learn more about financial market here:

brainly.com/question/19733618

#SPJ4

4 0

1 year ago

Tariffs and other trade restrictions increase the domestic scarcity of products from abroad. Such policies benefit domestic prod

MAXImum [283]

Answer: Option B

Explanation:

A trade restriction is an artificial restriction on the trade of goods and/or services between two or more countries.

The right option is B because the statement contains one error; domestic producers gain at the expense of foreign producers rather than domestic consumers.

8 0

2 years ago

For each situation, select one option from below that you think will help increase profit.

Art [367]

Employees at printing company is the best rates on advertising, A shop that sells fine glass is Get the best rates on supplier purchases.

<h3 /><h3>What are the other situation that fix the below statements?</h3>

There are 12 places to buy yarn needed for knitting factories is Use resources wisely, two stores sell same video game at the same price is Eliminate some free services. At a sign making company the extra metal is discarted is Increase worker efficiency.

Thus, the numbering has done in above statements correctly

For more details about the situation and statements, click here

brainly.com/question/20382671

#SPJ1

6 0

1 year ago

When loans are amortized, monthly payments are ________ , while the interest portion of the monthly payment ________ and the pri

vitfil [10]

Answer:

Constant, Decreases, Increases

Explanation:

4 0

2 years ago

You work for a company that manufactures prescription eyeglasses and want to create a piece of content for your buyer persona. y

Svet_ta [14]

Answer: A checklist on how to determine if it's time to get a new pair of eyeglasses

A set of predefined checks can let the customer know if there could be changes in his lens and if its time for another visit to the eye specialist. This would make the customer more happy and lean towards towards your businesses for future needs and make him a loyal customer

6 0

2 years ago