Tag: land

Fertility of land depends upon various factors but mainly on the climatic conditions,rainfall etc.Hence the fertility of land varies from places to places.

Minerals are formed from the decomposition of soil.The decomposition of soil occurs due to climatic conditions of that particular area.Hence the richness of mineral wealth varies from place to place.

An entrepreneur is defined by their role in identifying opportunities, initiating change, and managing the risks associated with starting a new enterprise.

 An entrepreneur uses his skills ,ideas and knowledge to run an organization and hence he conceives a business to transform his dream into reality.

An entrepreneur uses his skills and knowledge to make the production mechanism of a firm more efficient ,which is turn leads to the creation of profit/wealth.

An entrepreneur manages the functions of an organization and hence he must possess good negotiating skills in order to ensure coordination over all the departments of the organization.

An entrepreneur is responsible for motivating the employees .He also convey a sense of purpose in order to project an organizational goal and asks everyone to work hard to achieve that goal.

An entrepreneur uses his ideas and knowledge to run an organization thus,he bears the risk involved in setting up an organization.

Dividend/profit is known as the cost as a factor of production.For instance, when an entrepreneur invests his ideas to run an organization,then as a result ,profit is derived which is known as the cost of entrepreneur.