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Questions
Discuss the risk-bearing functions of an entrepreneur.
Most of the functions of an entrepreneur are performed by paid professionals. With a suitable example, explain the following function performed by an entrepreneur:
Risk Bearing
Answer in Brief
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Solution
The risk-bearing function is the most important function of an entrepreneur. The risk is caused by uncertainties attached to production, investment and profits. Another big risk is technological obsolescence and frequent changes in government policies.
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Chapter 1: Factors of Production - Exercise [Page 32]
