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3 years ago

What must an entrepreneur assume when starting a business??

2 answers:

4 0

An entrepreneur must assume the fact that clever market strategies may still fail to sell a product when starting a business.

<h2>Further Explanation: </h2><h3>Entrepreneurship </h3>

Entrepreneurship is the process of identifying a business opportunity or a gap and then coming up with ways and means to fill the gap. It involves coming up with ideas or means of achieving set goals by an individual.
Entrepreneurship involves taking risk by investing resources such as finances, time, labor and other factors required with an aim of making profit as a reward. It may involve creation or production of goods and services or filling the gap between producers and consumers.

<h3>Entrepreneur </h3>

An entrepreneur is the person who identifies a business opportunity and takes a risk to invest his resources with an aim of making profit as a reward. An entrepreneur creates new methods or ways to satisfy the consumer need thus closing an existing gap in the market.
An entrepreneur comes up with a process to utilize available resources and technology to achieve certain set goals such as production of goods and services to add value to the economy while at the same time making profit and benefiting the society.

<h3>Characteristics of an entrepreneur </h3>

1. Creativity

For an entrepreneur to succeed he/she should always think of new ideas and better methods of doing things.

2. Future-oriented

An entrepreneur is always looking at the future of his/her business. They always work to achieve certain set objectives and they know what exactly the want to achieve.

3. Flexibility

4. Persuasive

5. Passionate about their businesses

6. Risk taker

7. Good decision makers

8. Resourceful

9. Ability to solve problems, etc.

Key words: Entrepreneur, entrepreneurship

<h3>Learn more about </h3>

Entrepreneur: brainly.com/question/8358477
Advantage of Entrepreneurship: brainly.com/question/11426542

Level: High school

Subject: Business

Topic: Entrepreneurship

yulyashka [42]3 years ago

3 0

That clever market strategies may still fail to sell a product

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trapecia [35]

Answer:

Conversion cost= $58,300

Explanation:

Giving the following information:

Direct labor $ 29,000

Manufacturing overhead $ 29,300

<u>The conversion costs are the sum of the direct labor and manufacturing overhead:</u>

Conversion cost= direct labor + Manufacturing overhead

Conversion cost= 29,000 + 29,300

Conversion cost= $58,300

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2 years ago

Lefave, Inc., manufactures and sells two products: Product Q1 and Product D5. Data concerning the expected production of each pr

Travka [436]

Answer:

Predetermined manufacturing overhead rate= $29.59 per direct labor hour

Explanation:

Giving the following information:

Total direct labor-hours 15,755

Total overhead:

Labor-related DLHs= $172,482

Product testing tests= $68,909

General factory MHs= $224,825

Total= $466,216

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 466,216/15,755

Predetermined manufacturing overhead rate= $29.59 per direct labor hour

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3 years ago

Based on the details of the scenario, determine what will most likely occur. Jillian and Chase are making a contract in which Ji

olga2289 [7]

Answer: Contract is voided

Explanation:

From the question, we are informed that Jillian and Chase are making a contract in which Jillian ships beaver pelts to Chase, who will then makes the pelts into hats to sell.

We are further told that a year into their contract, it becomes illegal to buy or sell beaver pelts in the United States. Based on the scenario explained, the contact will be voided.

A void contract is referred to as a formal agreement that cannot be enforceable and is not legitimate. Since it is illegal to either purchase or sell beaver pelts, it means that the context cannot be carried out anymore and should the be void.

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2 years ago

Ronald suffers from dementia that impacts his brain function, but he also has healthy periods of time when his mind is fully fun

vova2212 [387]

Answer:

2. False

Explanation:

Capacity to a contract refers to whether the person to a contract is legally competent to enter into such a contract.

For instance, lunatics, drunkards, minors, criminals and person of unsound mind are deemed incapable of entering into a contract.

A person diagnosed with dementia, which impairs his decision making would normally be regarded as incapable to signing a contract.

But, capacity is ascertained as per the situation i.e at the time the contract is signed or entered into.

In the given case, Ronald entered a contract while he was sane and in healthy state of mind. His judgement at the time of entering such a contract wasn't impaired by dementia.

Thus, the contract will be legally enforceable as per the law.

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2 years ago

You are an RR at a firm and one of your customers calls you up and informs you that she wishes to exercise a long listed option

MAVERICK [17]

Answer:

The correct answer is: The firm would present the order to the Options Clearing Corporation.

Explanation:

The Options Clearing Corporation or OCC works under the Securities and Exchange Commission (<em>SEC</em>) and acts as a guarantor and the issuer of options and futures contracts. The OCC is also in charge of clearing transactions for stock indexes, interest rate composites, and foreign currencies.

7 0

3 years ago