If an economic agent's returns to entrepreneurship is likely to be lower than his opportunity cost of entrepreneurship:
A) he will choose to be an entrepreneur.
B) he will always make profits if he chooses to be an entrepreneur.
C) he will always make losses if he chooses to be an entrepreneur.
D) he will not choose to be an entrepreneur.
Question 2
An economy in which government bureaucracy decides how much of a good to produce, how to produce the good, and who gets the good is known as a
A) centrally planned economy. B) market economy.
C) mixed economy. D) laissez-faire economy.