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3 years ago

A key characteristic of a successful entrepreneur is:

Business

1 answer:

avanturin [10]3 years ago

6 0

Answer:

C) Learning to fail intelligently

Explanation:

Economics recognizes four factors of production, the first three are land, labor and capital:

land: includes any raw materials and natural resources used to produce other goods
labor: human work involved in the production process.
capital: physical tools and equipment involved in the production process

The fourth and probably most important factor is entrepreneurship. An entrepreneur is the person that combines all the other 3 factors of production into a business. Entrepreneurs take the risk of setting up their own business and many times are great innovators that are able to recognize opportunities and take them.

But doing business is not easy and being an entrepreneur is even harder. No matter how much positive energy and great ideas an entrepreneur has, there is chance that he will fail several times. Creative processes are not linear, they work on a trial and error basis and sometimes that also applies to running a new business. But as the great Micheal Jordan said," the important thing is not how many times you fall, but how many times you stand up."

high energy level

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A situation in which financial or other personal considerations have the potential to compromise or bias professional judgment a

STatiana [176]

The circumstance is called Conflict of Interest. It is a circumstance in which a man or association is engaged with various interests, money related or else, one of which could degenerate the inspiration or basic leadership of that individual or association.

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3 years ago

Tony's Pizza's production function is shown in the table below.

Nastasia [14]

A technological efficiency is achieved, when a given output achieves the maximum possible output.

<h3>Why the pizzeria is technologically efficient?</h3>

a) Suppose Tony operates Plant 2. He hires 2 workers and produces 20 pizzas a day. Is the pizzeria technologically efficient? Why or why not?

The firm is not technologically efficient. The production function shows that with 2 ovens and 2 workers it is possible to produce 22 pizzas a day.

b) Suppose Tony operates Plant 1. He hires 2 workers and produces 18 pizzas per day. Is Tony's Pizza technologically efficient? Why or why not? Can Tony increase production to 22 pizzas a day in the short run? If yes, how?

Tony's Pizza technologically efficient. The production function shows that 18 pizzas is maximum output that 2 workers can produce with 1 oven. Tony can increase production to 22 pizzas per day in the short run by hiring more labor.

c) Suppose Tony operates Plant 3. What is the marginal product of labor when the fourth worker is hired? When operating Plant 3, does Tony experience diminishing marginal returns? Explain.

When the 4th worker is hired, the marginal product of labor is the change in output, 40 pizzas-33pizzas= 7 pizzas, divided by the change in the labor input, 1 worker. So, the marginal product of labor for the 4th worker is 7 pizzas per day.

Tony experiences diminishing marginal returns because the marginal product of labor diminishes as more workers are hired.

d) Suppose Tony currently uses Plant 3. Can he increase production from 40 to 50 pizzas per day in the short run? In the long run? If yes, how?

If Tony uses Plant 3, he cannot increase production from 40 to 50 pizzas per day in the short run. The short-run production function for plant 3 shows that the maximum output that the firm can produce with this plant is 48 pizzas per day.

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2 years ago

You deposit $2,000 in a savings account and a year later you have $2,100. Meanwhile, the consumer price index rises from 200 to

qaws [65]

Answer:

nominal interest rate = 5%

real interest rate = 3%

Explanation:

given data

deposit previous = $2,000

deposit present = $2,100

CPI consumer price index rises = 200 to 204

to find out

nominal interest rate and real interest rate

solution

we get here first nominal interest rate that is express as

nominal interest rate = ( deposit present - deposit previous ) ÷ deposit previous × 100 ..........................1

put here value we get

nominal interest rate = $\frac{2100-2000}{2000}$ × 100

nominal interest rate = 5%

and

now we get here inflation rate that is

inflation rate = ( CPI present - CPI previous ) ÷ CPI previous × 100 .............2

inflation rate = $\frac{204-200}{200}$ × 100

inflation rate = 2%

and

real interest rate will be as

real interest rate = nominal interest rate - inflation rate .................3

real interest rate = 5% - 2%

real interest rate = 3%

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3 years ago

A $298 petty cash fund has cash of $32 and receipts of $247. The journal entry to replenish the account would include credit to

Nikolay [14]

The journal entry to replenish the petty cash account is credit to Cash for $266.

<h3>How would petty cash be replenished?</h3>

The amount that needs to be replenished is:

= Petty cash fund - cash

= 298 - 32

= $266

This amount needs to be taken from the cash account which is why the cash account will be credited with $266.

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2 years ago

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Eduardwww [97]

Zoom Video Communications is a platform that allows communication via the internet in real time, being a facilitating tool for business.

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It allows internal and external improvements to be incorporated, such as the digital age for example, which through the internet has revolutionized the way business can be carried out, with real-time communication regardless of geographic location.

Demographic changes are also a process resulting from the innovations that made globalization possible, making multicultural environments and businesses more focused on diversity.

Therefore, information technology was the factor that simplified the business sector by enabling greater reliability and speed in processes, generating more competitiveness for industries.

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