Cost

Our world is evolving so quickly and it shows the importance of a free enterprise system. There are millions of entrepreneurs who have made a huge impact

3. Suppose that if you buy one Big Mac that gives you marginal utility of 500 and a second

     The belief and implementation of free markets and pro-business policies have allowed the American nation to become the strongest country in the world. The entrepreneur is a special type of business person that is hurt by the livable wage. Our nation’s economy is diverse and adaptable because entrepreneurs are always willing to take risks to make money and stay competitive. Entrepreneurs act as the catalysts for the American economy. They take the capital risks to create new products,

The encouragement and abundance of entrepreneur mentality is vital for any economy to achieve financial stability and capital growth. Entrepreneurship adds jobs to the economy and diversifies business by creating more companies and thus increasing competition. Business competition is necessary for an economy to be successful because it forces fair prices and employee rights. In “The Fastest-Growing Group of Entrepreneurs in America” Amy Haimerl presents the rising numbers of women entrepreneurs in America and the reasons why women are leaving corporate America.

NASA had a favourable spending variance of 498thousand this year which means they spend 498thousand less than budgeted. The actual fixed cost per unit was around 519/tonne.

Baby boomers are the second group and they were born in the years between 1946 and 1964. More than sixty six percent of them have jobs and thirty three percent of them own their homes. These individuals are optimistic, self-sufficient and place high regard on personal growth. With regards to work ethics, they can multitask and work for long hours. Generation X is the next generation and can be termed as individuals who were born in the years between 1965 and 1977. This group is the best educated and at least forty percent of them have attained a college education. Money is their main motivation and they are highly materialistic. Concerning work ethics, they are viewed as people that can move between jobs and can keep up with changes within organizations. They desire to have their skills and talents to be appreciated and valued. They are risk takers and need continuous feedback and coaching from management. The final generation is known as the Millennials and they were born between 1989 and 1978, Rizzo (2009) defined them as having high levels of cultural diversity, individualism, and general comfort, they were also born during the technology boom. Millennials are hardworking, negotiate for their welfare and are technologically savvy.

Government employees are held responsible for use of good judgment so those excessive prices are not paid.

Beginning of new millennium, where the generations X comes of age, representing the executives and professionals in most organizations middle management level. Amidst the flourishing global economy outlook and new wealth creation,

Becoming an entrepreneur will be very exciting journey; from the beginning till the development and realisation of one's product or service.

Entrepreneurs come from all over, of many different types, with many different talents and many different dreams. Not everyone, however, whom owns a small business, is an entrepreneur. We have a dream and we attempt to pursue it, yet end up finding ourselves working twice as hard attempting to make it work because we only trust ourselves. You go into business for yourself but spedn so much time working on the product and doing the chores that you lose sight on the business itself. In fact, according to Gerber, only a select few are true entrepreneurs and for the others it may have existed for a short period of time. From a newcomer’s perspective, one would think of course if they own their own business they are classified as an

The following equation -- Beginning finished goods + cost of goods manufactured - ending finished goods -- is used to calculate cost of goods sold during the period.

Entrepreneurs are the flavour of the year and today everyone is either one or on the way to becoming one. Fueled by the drive to earn more than what most jobs can give, rock star like adulation achieved by those who make it, and with success stories that run into billions of dollars, being an entrepreneur is the new black. In fact those of us who are 30 plus would still remember that just two to three decades back, being an entrepreneur, especially if you were male, meant that you were either morally bankrupt or worse stupid, and either of which, by-the-way, substantially brought down your value in the marriage market.

Entrepreneurs are born. This statement by Professor James V. Koch from Old Dominion University, Virginia, USA reflects that entrepreneurs have entrepreneurship skills that are part of a person’s innate traits one must be born with (Kuratko 2014).

The latest study about entrepreneurs shows that about 400 million people in 54 countries are currently running or starting their own business, potentially creating more than a billion new jobs (“Global Entrepreneurship”, 2012). Entrepreneurs are their own bosses – nobody tells an entrepreneur what to do and they control their own destinies. Entrepreneurs can choose a business that interests them – they work in fields that interest them. Many combine hobbies and interests with business. Entrepreneurs can be creative. Entrepreneurs are always implementing creative ideas they come up with on their own. Entrepreneurs can make a lot of money if their business succeeds.

In addition to the benefits of entrepreneurship to the economy, it also enables people to be independent. Business people enjoy independence in that they can make their own decisions and they are I charge of their own work. One can toy around with unconventional means of doing things which eventually creates creativity and innovativeness. Again the entrepreneurs become part of motivation and inspiration to others in the society. One can follow their passion, which implies freedom unlike when one is employed and they have to follow laid down rules. The only downside to this is that the entrepreneur is responsible for all the risks including making huge losses (Bruce, 2005).