10. whats the best explanation of how businesses help increase the standard of living? by selling goods and…

10. whats the best explanation of how businesses help increase the standard of living? by selling goods and services by buying goods and services by engaging in economic activity 11. explain the difference between an entrepreneur and an employee. which would you like to be and why?

10. whats the best explanation of how businesses help increase the standard of living? by selling goods and services by buying goods and services by engaging in economic activity 11. explain the difference between an entrepreneur and an employee. which would you like to be and why?

Answer

Brief Explanations:

  1. Businesses increase the standard - of - living by engaging in economic activity. Selling goods and services is part of economic activity, but engaging in economic activity encompasses a broader range of actions like investment, innovation, etc. Buying goods and services is more of a consumer - side action.
  2. An entrepreneur is a person who starts a business, takes on financial risks, and is responsible for the overall success or failure of the venture. They have the freedom to make decisions and innovate. An employee works for an employer in return for a salary or wages, has defined job responsibilities, and generally has less risk and decision - making power compared to an entrepreneur. The choice between being an entrepreneur and an employee depends on an individual's risk tolerance, creativity, desire for independence, and skills. For example, someone who is risk - averse and values job security may prefer to be an employee, while someone with a high tolerance for risk and a strong entrepreneurial spirit may prefer to be an entrepreneur.

Answer:

  1. By engaging in economic activity
  2. An entrepreneur starts a business, takes risks, and has decision - making power; an employee works for an employer for a salary. The choice depends on individual risk tolerance, creativity, etc.