Asked by Cashmere Wilson on May 21, 2024
Verified
Entrepreneurs are unnecessary in a market economy, and their profit is unearned.
Market Economy
A market economy is a system where the supply and demand for goods and services determine prices and production levels, operating with minimal government intervention.
Entrepreneurs
Individuals who initiate, manage, and assume the risks of starting and running a new business venture.
- Recognize the significance of entrepreneurs within market economies and dispel misconceptions about their function.
Verified Answer
CG
Curissa GreshamMay 22, 2024
Final Answer :
False
Explanation :
Entrepreneurs play a crucial role in a market economy by innovating, creating jobs, and driving economic growth. Their profit is considered a reward for taking risks and providing value to consumers.
Learning Objectives
- Recognize the significance of entrepreneurs within market economies and dispel misconceptions about their function.