Question 2
[Maximum number: 1]
What is considered the essential requirement for all entrepreneurs?
A
attracting customers
B
buying stock
C
managing staff
D
taking risks
CAIE A-Level Economics 1.3.5 Entrepreneurship
Practise explaining how entrepreneurs organise factors, bear uncertainty, innovate and choose markets, then evaluate enterprise against other resources as a source of growth.
How this is tested
- identify risk-bearing, resource organisation and strategic innovation as enterprise functions
- distinguish entrepreneurial decisions from routine payments or administrative work
- evaluate whether enterprise or another factor is the binding constraint on long-run growth