Answer to Question #143535 in Economics of Enterprise for kkk

Question

factors of production or the owner the resources an its payments for the business to continue functioning.

Answer 1

The entrepreneur is vital for the continued functioning of a business because they initiate the process of production by mobilizing the other factors of production. Simply put the owner of the resources organizes, manages and controls the affairs of the business and they are the risk bearers and in consideration of this the profit makers as well.