An entrepreneur in Brazil decides to start a new smartphone manufacturing business. Which of the following best describes the role of the entrepreneur?

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Question

An entrepreneur in Brazil decides to start a new smartphone manufacturing business. Which of the following best describes the role of the entrepreneur?

Accepted Answer

Organising the factors of production and bearing risk — Award 1 mark for identifying both key functions of enterprise. A is incorrect — providing finance is the role of capital owners who receive interest. B is incorrect — physical work is the function of labour. D is incorrect — raw materials are part of the factor land.

Answer

Supplying the raw materials needed

Answer

Organising the factors of production and bearing risk

Answer

Carrying out the physical production work

Answer

Providing the finance for the business

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