why entrepreneur is not a hired factor of production? Give reason
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Hey!!
Entrepreneur is the person who combines all the other factors of production for the sake of manufacturing goods or providing services by identifying market needs/wants. An entrepreneur is independent and not answerable to anyone, e.g. bosses or senior managers. This quality makes him unhirable.
The thing you need to understand here is that entrepreneur holds some specific characteristics. He is a leader; visionary and missionary. You also have to identify differences between a leader and a manager. Manager only manage certain aspects of the business but leaders motivate the team, they are innovative, focused on goals, takes risk and go against the grain.
Hope this helps :)
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