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Questions
Both labour and entrepreneur are human factors of production. Is there any difference between them? Explain any two such differences.
What is the difference between a labourer and an entrepreneur?
Solution
| Labour | Entrepreneur | |
| 1. | Labour resources contribute to the creation of products and services. Labour is generally involved in operational parts of businesses, such as operating machines. | Entrepreneurs play an important part in creating a firm. An entrepreneur is responsible for discovering opportunities, organising resources, and developing plans. |
| 2. | Labour is focused on execution of tasks. | Entrepreneurs are mostly concerned with developing new ideas and providing leadership to move the business forward. |
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