which of the following describes the role of an entrepreneur in a capitalist economic system. Select all that apply?
There are multiple possible correct answers to this question, but here are five options:
- Identifying and addressing unmet needs or wants in the market
- Creating new products, services, or technologies
- Investing capital in a business venture and coordinating the factors of production (e.g. labor, land, and capital) to produce goods or services
- Taking risks to pursue potential profits and accepting the possibility of losses or failure
- Driving competition and innovation in the marketplace to increase efficiency and improve quality of goods or services.