Business High School

The _____ motive encourages entrepreneurs to start businesses, expand existing one, create new products or improve existing ones, and/or improve production processes to use resources efficiently.
1.)profit
2.)price
3.)none of the above

Answers

Answer 1

It is the 1) profit motive that encourages entrepreneurs to start businesses, expand old businesses, create new or improve products and production processes for efficient use of resources.

What is the profit motive?

The profit motive describes the economic incentive that drives the activities and decisions of entrepreneurs.

Thus, it is not price that motivates entrepreneurs but profit.

Learn more about the role of the profit motive in resource allocation at https://brainly.com/question/933169

Related Questions

Can u help me plzzzzzzz​

Answers

Answer:

warm up

an advert in a prime time TV show :a mass market

an advert in a local newspaper :a market in particular location

an advert in a magazine for teenagers : a market of particular age

Explanation:

one region why company will match the branding of a new product to the company's overall brand image is;market

by the help of this company can attract customers for their product.company gain a profit as it helps to get market which makes company belief towards the satisfaction.

What is the difference between traditional manufacturing and a cottage
industry?
A. Manufacturing is done on a lower scale.
B. Manufactured products are better quality.
C. Manufactured items are worth more.
D. Manufacturing is done on a larger scale.
SUBMIT

Answers

Answer:

its a D

Explanation:

The difference between traditional manufacturing and a cottage industry is manufacturing is done on a larger scale. Thus, option D is correct.

What is cottage industry?

A cottage industry is a small manufacturing company run by an individual or family, usually from their house rather than a specially constructed facility. The minimal expenditure needed to launch a cottage industry serves as its defining characteristic.

They frequently concentrate on making labor-intensive goods but have a tough time competing with manufacturers of mass-produced goods who operate factories. The original cottage industries in the U.S. and Europe were light manufacturing businesses that performed subcontracted work in shoemaking, minor metal machine components, textile or garment production, or stitching. These small-scale companies frequently used raw materials provided by the contract supplier to make final goods.

Therefore, we can conclude that option D is correct.

Learn more about cottage industry here:

https://brainly.com/question/29615908

#SPJ5

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