Multiple Choice
Which of the following best defines 'economies of scale' in the context of human geography?
37
views
0. Basic Principles of Economics
Introduction to Economics
Struggling with Microeconomics?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
For entrepreneurs, taking _________ and growing a business go hand in hand.
A
notes
B
orders
C
vacations
D
risks
Verified step by step guidance1
Understand the context of the sentence: it relates to what entrepreneurs must do to grow a business.
Recall that entrepreneurship involves uncertainty and decision-making under uncertainty.
Identify the key concept associated with entrepreneurship: entrepreneurs often take 'risks' to innovate and expand their ventures.
Evaluate the options given: 'notes', 'orders', and 'vacations' do not logically connect with the process of growing a business.
Conclude that the correct word to fill in the blank is 'risks', as taking risks is fundamental to entrepreneurial growth.
Related Videos
Related Practice
Introduction to Economics practice set
Problem sets built by lead tutorsExpert video explanations