Question

Mention any four characteristics of an entrepreneur as a factor of production

Answer 1

1) The entrepreneur provides all the factors of production - land, labour, capital and enterprise himself and constantly innovates his business to stay competitive within the limited resources he has.
2) The entrepreneur has the ability to take on big companies with the help of a single, powerful idea.
3) The entrepreneur also provides employment to many others in his business and increases economic activity.
4) It is the entrepreneur who ventures into new businesses and ideas rather than any established company because the entrepreneur believes in taking risk to establish himself.

Answer 2

These are the 4 characteristics of an entrepreneur as a factor pf production:

1.The entrepreneur is responsible for the provision of all the factors of production land, labor, capital and himself.

2.With new innovative ideas entrepreneur can take on big companies.

3.The entrepreneur increases the economic activity while providing many employment opportunities.

4.The entrepreneur is a risk taker who ventures into new business ideas and creation compared to any other big companies.