The meaning of risk and its relation with profit. Introduction: Risk refers to the lower probability rate of success associated with a new start up in any field. It involves the risk of loss of time as well as money for the non-profitable business. Profit refers to the income of the entrepreneur that they earn after all the payments to all factors of production are made. It is the amount that is above the sum total of all the payments to be made outside the business. Reward is the profit for an entrepreneur in return to handle the risk associated in the business.

Question

Want to see the full answer?

Answer 1

Question

Chapter 1.1, Problem 3TP

Summary Introduction

To determine: The meaning of risk and its relation with profit.

Introduction: Risk refers to the lower probability rate of success associated with a new start up in any field. It involves the risk of loss of time as well as money for the non-profitable business.

Profit refers to the income of the entrepreneur that they earn after all the payments to all factors of production are made. It is the amount that is above the sum total of all the payments to be made outside the business.

Reward is the profit for an entrepreneur in return to handle the risk associated in the business.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

What sacrifices must a business make to reduce risk?

What is risk and provide an example of it.

How does uncertainty and ambiguity affect risk?

Answer 2

Question

Chapter 1.1, Problem 3TP

Summary Introduction

To determine: The meaning of risk and its relation with profit.

Introduction: Risk refers to the lower probability rate of success associated with a new start up in any field. It involves the risk of loss of time as well as money for the non-profitable business.

Profit refers to the income of the entrepreneur that they earn after all the payments to all factors of production are made. It is the amount that is above the sum total of all the payments to be made outside the business.

Reward is the profit for an entrepreneur in return to handle the risk associated in the business.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 1.1, Problem 3TP

Summary Introduction

To determine: The meaning of risk and its relation with profit.

Introduction: Risk refers to the lower probability rate of success associated with a new start up in any field. It involves the risk of loss of time as well as money for the non-profitable business.

Profit refers to the income of the entrepreneur that they earn after all the payments to all factors of production are made. It is the amount that is above the sum total of all the payments to be made outside the business.

Reward is the profit for an entrepreneur in return to handle the risk associated in the business.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 1.1, Problem 3TP

Summary Introduction

To determine: The meaning of risk and its relation with profit.

Introduction: Risk refers to the lower probability rate of success associated with a new start up in any field. It involves the risk of loss of time as well as money for the non-profitable business.

Profit refers to the income of the entrepreneur that they earn after all the payments to all factors of production are made. It is the amount that is above the sum total of all the payments to be made outside the business.

Reward is the profit for an entrepreneur in return to handle the risk associated in the business.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 1.1, Problem 3TP

Summary Introduction

To determine: The meaning of risk and its relation with profit.

Introduction: Risk refers to the lower probability rate of success associated with a new start up in any field. It involves the risk of loss of time as well as money for the non-profitable business.

Profit refers to the income of the entrepreneur that they earn after all the payments to all factors of production are made. It is the amount that is above the sum total of all the payments to be made outside the business.

Reward is the profit for an entrepreneur in return to handle the risk associated in the business.

Answer 6

Chapter 1.1, Problem 3TP

Summary Introduction

To determine: The meaning of risk and its relation with profit.

Introduction: Risk refers to the lower probability rate of success associated with a new start up in any field. It involves the risk of loss of time as well as money for the non-profitable business.

Profit refers to the income of the entrepreneur that they earn after all the payments to all factors of production are made. It is the amount that is above the sum total of all the payments to be made outside the business.

Reward is the profit for an entrepreneur in return to handle the risk associated in the business.

Answer 7

Chapter 1.1, Problem 3TP

Summary Introduction

To determine: The meaning of risk and its relation with profit.

Introduction: Risk refers to the lower probability rate of success associated with a new start up in any field. It involves the risk of loss of time as well as money for the non-profitable business.

Profit refers to the income of the entrepreneur that they earn after all the payments to all factors of production are made. It is the amount that is above the sum total of all the payments to be made outside the business.

Reward is the profit for an entrepreneur in return to handle the risk associated in the business.

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 11

Ch. 1.1 - Prob. 1.1AQ Ch. 1.1 - Prob. 1.1BQ Ch. 1.1 - Prob. 1TP Ch. 1.1 - Prob. 2TP Ch. 1.1 - Prob. 3TP Ch. 1.1 - Prob. 4TP Ch. 1.2 - Prob. 1.2AQ Ch. 1.2 - Prob. 5TP Ch. 1.2 - Prob. 6TP Ch. 1.2 - Prob. 7TP

Solution Summary: The author explains the meaning of risk and its relation with profit. Risk refers to the lower probability rate of success associated with a new start up in any field.

Want to see the full answer?

Chapter 1 Solutions