Multinational Enterprise: An Encyclopedic Dictionary of Concepts and Terms

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SAGE Books - Multinational Corporations (MNCs)

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We will not make it awkward, if you want to return something then all you have to do is ask! Business firms are the main examples of producers and are usually what economists have in mind when talking about producers. However, governments are producers of some kinds of services—such as police services, defense, public schools, and mail delivery—and sometimes goods, such as when a government owns the oil fields and oil production for example, OPEC.

Multinational Enterprise: An Encyclopaedic Dictionary of Concepts and Terms,Ank

Households and individuals are producers of non-market goods and services such as cleaning, child-rearing, cooked food, etc. Entrepreneurs, by contrast, are idea-creators. They often also start off their ideas as producers. Producer , Dictionary.

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Concise Encyclopedia of Economics. An entrepreneur is someone who organizes, manages, and assumes the risks of a business or enterprise. An entrepreneur is an agent of change. Entrepreneurship is the process of discovering new ways of combining resources. When the market value generated by this new combination of resources is greater than the market value these resources can generate elsewhere individually or in some other combination, the entrepreneur makes a profit. An entrepreneur who takes the resources necessary to produce a pair of jeans that can be sold for thirty dollars and instead turns them into a denim backpack that sells for fifty dollars will earn a profit by increasing the value those resources create.

EconTalk podcast episode, August The conversation is a window into a world that few of us experience or are even aware of—how modern producers and retailers make sure the shelves are stocked and their products get noticed…. Lisa Turner on Organic Farming.

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