Different between labour and entrepreneu
Answers
Explanation:
Labor is defined as the physical work done by humans to produce goods and services. It is considered as the factor of production in the economics. Labor work is done on the instruction of the manager of the production area.
Labor is defined as the physical work done by humans to produce goods and services. It is considered as the factor of production in the economics. Labor work is done on the instruction of the manager of the production area.On the other hand, entrepreneur is person who brings an idea and works on it to make it real. An entrepreneur is very different from labor because he has the organizational ability, attitude of risk, ability to make quick decisions, and negotiating skills.
Answer -
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- Because of this vagueness, it is easy to confuse between “labor” and “entrepreneurship”. ... In economics, labor refers to the physical work done to produce goods or services and entrepreneurship refers to the innovations devised to produce goods or services. This is the essential difference between the two.
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