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Question 5 Potyet answered points out of 1.00 p Flag question is a sign that an entrepreneur has added value to the "scarce" she is using. Select one: O a. goods ob. employees o c. resources od. customer service

Ask by Collins Rodriquez. in the United States
Feb 03,2025

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The answer is **c. resources**.

Solution

The correct answer to the question is: **c. resources** Explanation: In the context of entrepreneurship, adding value to "scarce" resources refers to the ability of an entrepreneur to utilize limited resources (such as time, money, materials, etc.) in a way that enhances their value, leading to better products or services. This is a fundamental aspect of entrepreneurship, as it involves optimizing the use of scarce resources to create something valuable.

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The concept of adding value in entrepreneurship revolves around transforming scarce resources into something that benefits both the business and its customers. For example, turning raw materials into a finished product not only generates profit but also meets consumer needs, showcasing how value can be created from seemingly limited inputs. In the world of entrepreneurship, recognizing the potential within scarce resources is essential for innovation. Think of companies like Tesla—they took the scarce resource of renewable energy and transformed it into sustainable vehicles that are not only eco-friendly but also stylish. This highlights how visionary entrepreneurs can turn limitations into opportunities for growth and success!

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