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WAEC Economics 2001 Question 5

Question 5

Theory of Production

Which of the following is a function of an entrepreneur?

  1. A.Avoidance of risks
  2. B.Decision making
  3. C.Employment control
  4. D.Organizing unions
Show the answer and explanation

Answer: B (Decision making)

Explanation

The entrepreneur decides what, how and how much to produce, and bears the risks (rather than avoiding them).