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WAEC Economics 2021 Question 3

Question 3

Theory of Production

The distinguishing function of an entrepreneur is

  1. A.planning.
  2. B.control.
  3. C.risk-bearing.
  4. D.management.
Show the answer and explanation

Answer: C (risk-bearing.)

Explanation

Managers can plan and control; only the entrepreneur bears the risk of the business.