Marcus invented a new bicycle helmet light that increases safety without being too heavy. He tried selling it at spring festivals but it was not getting much interest. The next month he decided to focus only on selling at gatherings of bike enthusiasts and a booth at the sporting goods store on Saturdays. He found his profits doubled almost immediately.
Question
Use the passage to answer the question.
Which characteristic of entrepreneurs is Marcus demonstrating?
(1 point)
Responses
self-correction
self-correction
patience
patience
innovation
innovation
endurance
endurance
In which situation does an entrepreneur earn profits?
(1 point)
Responses
matching income to losses
matching income to losses
experiencing more losses than income
experiencing more losses than income
taking a loan to cover losses
taking a loan to cover losses
having greater income than costs
having greater income than costs
What is one non-monetary positive incentive for becoming an entrepreneur?
(1 point)
Responses
working long hours
working long hours
earning a profit
earning a profit
being your own boss
being your own boss
organizing productive resources