Advertisements
Advertisements
Question
A businessman stocks potatoes in the cold storage during the winter and releases that stock during summer. Will this be considered as production? Give a reason for your answer.
Solution
Yes, the product was produced in the same financial year.
APPEARS IN
RELATED QUESTIONS
Define the term ‘Entrepreneur’.
The income earned by an entrepreneur is residual in nature. Explain.
Which of the following is not a function of an entrepreneur?
______ is the most important and specific function of an entrepreneur.
What is an entrepreneur?
Discuss the decision-making function 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:
Uncertainty Bearing
Explain the importance of an entrepreneur.
"Entrepreneurs are innovators" said Schumpeter. Explain briefly.
Name the factor of production to which uncertainty-bearing belongs.