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WAEC Economics 2006 Question 6

Question 6

Theory of Production

An owner-manager of a firm can also be called

  1. A.a shareholder
  2. B.an entrepreneur
  3. C.an employer
  4. D.a chairman.
Show the answer and explanation

Answer: B (an entrepreneur)

Explanation

A person who owns, organises and bears the risk of a business is an entrepreneur.