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10 November, 19:34

One basic difference between "labor" and "entrepreneur" is that

Multiple Choice

a. labor is hired by a firm, whereas the entrepreneur owns the firm.

b. an entrepreneur has high-level skills, whereas labor does not.

c. labor performs manual work, whereas an entrepreneur performs mental work.

e. education is important for an entrepreneur but not for labor.

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Answers (1)
  1. 10 November, 21:50
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    a. labor is hired by a firm, whereas the entrepreneur owns the firm.

    Explanation:

    Labor refers to the people engaged in production of products in a factory.

    They are always the people working for wages or salary.

    An entrepreneur refers to the one who is doing some business by his own, that is he owns the ownership of that business.

    There is no relation to education level of entrepreneur or labor, the entrepreneur might also be engaged in manual work, but in no manner the labor own the company, therefore most valid difference is of ownership, that is

    a. labor is hired by a firm, whereas the entrepreneur owns the firm.
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Home » Business » One basic difference between "labor" and "entrepreneur" is that Multiple Choice a. labor is hired by a firm, whereas the entrepreneur owns the firm. b. an entrepreneur has high-level skills, whereas labor does not. c.
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