entrepreneurship
(noun)
The art or science of innovation and risk-taking for profit in business.
Examples of entrepreneurship in the following topics:
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Introduction to Small Business and the Corporation
- In practice, this belief in entrepreneurship has taken many forms, from the self-employed individual to the global conglomerate.
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The Role of the Financial System
- Entrepreneurship growth: Financial markets allow entrepreneurs (and established firms) to access the funds needed to invest in projects or companies.
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Short Run and Long Run Costs
- The land, labor, capital goods, and entrepreneurship all vary to reach the the long run cost of producing a good or service.
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Other Approaches to Calculating GDP
- This method measures GDP by adding incomes that firms pay households for factors of production they hire- wages for labor, interest for capital, rent for land, and profits for entrepreneurship.
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Measuring Productivity
- This can range from highly tangible inputs (working hours, products assembled) to highly intangible inputs (entrepreneurship, experience, technology skills, etc.).