Question

A key characteristic of a successful entrepreneur is:

Answer 1

Answer:

C) Learning to fail intelligently

Explanation:

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

1. land: includes any raw materials and natural resources used to produce other goods
2. labor: human work involved in the production process.
3. 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."

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