Answer:
The correct answer is b. Grit.
Explanation:
On many occasions, the main enemies of our dreams inhabit ourselves: conformism, apathy, disappointment and resignation. Many dreams lack planning, money, time and personal conviction about one's own abilities. All this goes against the entrepreneurial mindset.
Answer:
People usually prefer saving their time by buying at a place where they can find all the necessity products, they pay a few cents more for a single product just because they don't have to visit another store in order to buy the remaining goods.
Explanation:
Sometimes we pay a few cents extra for a product as compared to the same product available somewhere else at a cheaper price because a great variety of product is available.
People usually prefer saving their time by buying at a place where they can find all the necessity products, they pay a few cents more for a single product just because they don't have to visit another store in order to buy the remaining goods.
Answer:
A) 30 pies and 100 cakes.
Explanation:
Kim can produce 40 pies or 400 cakes an hour. Liam can produce 100 pies or 200 cakes an hour.
Since each one will specialize in the production of the good in which they have a comparative advantage, Kim will produce cakes and Liam will produce pies.
before specialization Kim produced 20 pies and 200 cakes, while Liam produced 50 pies and 100 cakes.
So the total gains from trade are:
- 50 pies - 20 pies = 30 pies
- 200 cakes - 100 cakes = 100 cakes
Answer:
True
Explanation:
Collateral is an asset used as a guarantee or security for the payment of a loan. It assures the lender that a borrower will pay back the loan.
If an entrepreneur applies for a business loan, the bank will most likely demand collateral. The entrepreneur will need to offer an asset, either property or motor vehicle, that will act as a guarantee for the loan. Should the entrepreneur fail in repayment, the bank can sell the asset to recover their money.
Few, if any, will lend anyone money based on a business idea alone. Many banks will demand a business proposal to be backed with some guarantee to secure funding.
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