-A contract is legally binding.
I'll just attach my answer. The system seems to think that my answer contained swear words.
The idea that all successful entrepreneurs persevere through setbacks and failures is the key characteristic that fuels an entrepreneurial discoveries which is illustrated by the idea that many entrepreneurs consider that failure only occurs when one doesn’t try.
<h3>Who is an entrepreneur?</h3>
This means the person that creates a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as entrepreneurship.
The characteristics of successful entrepreneurs are:
- passion for the business
- product/customer focus
- tenacity despite failure
- execution of idea.
Therefore, the idea that all successful entrepreneurs persevere through setbacks and failures is the key characteristic that fuels an entrepreneurial discoveries
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Answer:
The minimum wage creates unemployment among young and unskilled workers.
If the price of a product in a market decreased, other things equal, quantity demanded will increase.
There is a tradeoff between inflation and unemployment in the short run.
If consumer income increases, other things equal, the demand for automobiles will increase
If interest rates increase, investment will decrease.
Explanation:
Positive statement is objective and statements are usually based on facts and economic theory. They can be tested.
It is a known fact that the higher the minimum wage, the lower the demand for labour and the higher the unemployment rate. this is because price varies inversely with demand
a tradeoff between inflation and unemployment in the short run is known as the Phillips curve
Normative statement is based value judgements, opinions and perspectives. For example, the statement - social welfare spending in Sweden occupies too large a portion of the national budget - is based on opinion. To some the expenditure might be even too small. There is no economic theory that can be used to determine if this expenditure is too large or small
Jeff’s hot dog cart will have less customers and he will get less sales
