Answer to Question 1
While entrepreneurs can choose what businesses they want to start, the marketability of their products defines their success. A business cannot survive if there is not enough demand for its product.
Entrepreneurs can use knowledge of the laws of supply and demand to help them create successful businesses. For example, a service station that was the only one located near a busy highway exit (one supplier in a high-demand environment) would be more successful than a service station located at a small town intersection near three other service stations (four suppliers in a lesser-demand environment). Entrepreneurs need to know what products, skills, and experience are necessary for success, and by whom their product will be demanded.
Answer to Question 2
The three forms of business ownership are sole proprietorship, partnership, and corporation.
There are several laws of thermodynamics critical to understanding physical processes. Two of those
Coronary circulation. (A) Coronary vessels portraying the complexity and extent of the coronary circ
Blocked at every turn by congressional Republicans who hated him, President Obama turned to techniqu
The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own
Minerals are nonrenewable resources in limited supply
Find the factor demand for labour and the amount of output it will produce. Show all ...