Social Studies

Ball

21 January, 22:47

Ron and Nick chose to start their own businesses. Ron wanted to start an ice cream shop, and Nick wanted to launch a television manufacturing company. Ron and Nick had equal amounts of funds on hand and no government regulations restricting them. Months later, however, Ron has already set up his business, while Nick is still struggling to raise additional funds to build a factory. What was the main factor that affected Nick's business?

an irrelevant business idea

low demand for TVs in his country

high start-up costs

lack of labor