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Factors of Production — Economics STD 10 — Question

ICSE BoardEnglish MediumSTD 10EconomicsFactors of Production1 Mark
MCQ
Identify the correct statement from the following:
  • A
    An entrepreneur has to do only a few fixed activities.
  • B
    The income of an entrepreneur is fixed.
  • ✓
    The reward of an entrepreneur for his risk bearing function is called profit.
  • D
    The reward of a manager for rendering his services is of residual nature.
✓

Answer

Correct option: C.
The reward of an entrepreneur for his risk bearing function is called profit.
C

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