An entrepreneur can create a strong business strategy to reduce risk.
Entrepreneurs are the individuals who start new firms, taking on the majority of the risks and reaping the greatest gains. Entrepreneurship is the act of starting a business. The entrepreneur is typically thought of as an inventor who develops original ideas for products, services, businesses, and operational needs.
Creating a business strategy is one of the first actions that entrepreneurs may do to lower the risks associated with a new venture. Before beginning, one must determine how much time and money one will devote to their new venture. Market research should also be conducted. This provides insight into the likelihood that your new venture will succeed or fail.
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Answer:
Free Trade Definition. Free trade is a largely theoretical policy under which governments impose absolutely no tariffs, taxes, or duties on imports, or quotas on exports. In this sense, free trade is the opposite of protectionism, a defensive trade policy intended to eliminate the possibility of foreign competition
Explanation:
The computation of the cost per equivalent units for each one is shown below:
For Material
= Cost added ÷ Equivalent unit of production
= $67,276 ÷ 13,900 units
= $4.84 per unit
For Labor
= Cost added ÷ Equivalent unit of production
= $27,025 ÷ 11,500 units
= $2.35 per unit
For overhead
= Cost added ÷ Equivalent unit of production
= $86,825 ÷ 11,500 units
= $7.55 per unit
Answer:
Option "C" is the correct answer to the following statement.
Explanation:
If a Person Files a suit Against another person, there will be some relation must be held between these people.The relation between two people may be direct or indirect.
In the case of Honi and Jean, Jean has must be related to Honi's website or website business to files a suit against Honi.
The court will judge decision after knowing that substantial relation.
Answer:
Given:
Annual lease = $22000
Annual revenue = $380000
Payments = $120000
Utilities = $8000
Value (entrepreneur's talent ) = $80000
Forgone Entrepreneur's interest = $6000
Therefore, we'll first compute the accounting profit using the following formula :
<em>Accounting profit = Annual revenue - Annual lease - Payments - Utilities </em>
<em>Accounting profit = 380000 - 22000 - 120000 - 8000 </em>
<em>Accounting profit =$230000
</em>
Therefore, the economics profit can be evaluated using the following formula:
<em>Economic profit = Accounting profit - Opportunity cost (Salary of entrepreneur) - Value (entrepreneur's talent) - Forgone Entrepreneur's interest</em>
<em>= 230000 - 50000 - 80000 - 6000</em>
<em>= $94000</em>
