Question

Melina and Carl want to start an event management company that would provide local artists with a platform to showcase their talent and gain an audience. Melina and Carl are willing to invest their own resources in this project. In the context of factors of production, the given scenario exemplifies the concept of _____.

A. deployment
B. entrepreneurship
C. situational analysis
D. capital creation

Answer 1

The answer is option (d) entrepreneurship.

Step-by-step explanation:

Entrepreneurship is one of the factors of production. It is a term that describes the process of designing or creating a business, launching it and running the business or project with a view to making profits.

People who follow such processes are called entrepreneurs. Like Melinda and Carl, they invest their own resources into the project, bear the risk and reap profits if the project becomes successful.