Who is a person who puts together land, labour and capital?a)Moneylend...
An entrepreneur is a person who organises the other factors and undertakes the risks and uncertainties involved in the production. He hires the other three factors, brings them together, organises and coordinates them so as to earn maximum profit. For example, Mr. X who takes the risk of manufacturing television sets will be called an entrepreneur.
Who is a person who puts together land, labour and capital?a)Moneylend...
The person who puts together land, labor, and capital is called an Entrepreneur. An entrepreneur is a person who starts and manages a business venture, taking on financial risk in order to do so. They bring together the necessary resources for the business to operate, including land, labor, and capital.
Land
Entrepreneurs need land to set up their business operations. They may purchase or lease land or buildings to use as their business premises. The land may be used for manufacturing, retail, or office space, depending on the nature of the business.
Labor
Entrepreneurs need employees to help run their business. They may hire workers to produce goods or provide services, or they may outsource some tasks to contractors. Entrepreneurs need to manage their workforce effectively to ensure that the business can operate efficiently.
Capital
Entrepreneurs need capital to finance their business operations. They may use their own savings, borrow from friends and family, or seek funding from banks or investors. They need to manage their finances carefully to ensure that they have enough money to keep the business running and to invest in growth opportunities.
Conclusion
In conclusion, an entrepreneur is a person who puts together land, labor, and capital to start and manage a business venture. They take on financial risk and need to manage their resources effectively to ensure the success of their business.