Question

John wants to raise chickens in the city. He has to obtain a permit to sell the eggs. How might John's efforts to obtain the permit be classified?

Capital
Entrepreneurship
Labor
Land

Answer 1

The correct answer here is B: Entrepeneurship. The reason for this being the correct answer is that John is establishing a new business, something that is even novel because people don´t usually raise chickens to get eggs in the city and it answers the needs of city-living people, instead of having to rely on eggs that are grown from chickens who live in the country. Entrepneurship is defined as a business activity that is established by a person, who is called an entrepeneur, that is completely new and that answers to the needs and trends of the market, which is the case of John.

Answer 2

The correct answer should be Entrepreneurship because he wants to become an entrepreneur, that is, start his own business.