A government is trying to promote industrialization. It is concerned because the country's businesses are often unwilling to take risks to develop new ideas. The government attempts to encourage more innovation by offering to help pay for research into promising industrial technologies.Which factor of production is the government described in this passage attempting to develop?A.LaborB.LandC.CapitalD.EntrepreneurshipSUBMITarrow_backPREVIOUS
Question
A government is trying to promote industrialization. It is concerned because the country's businesses are often unwilling to take risks to develop new ideas. The government attempts to encourage more innovation by offering to help pay for research into promising industrial technologies.Which factor of production is the government described in this passage attempting to develop?A.LaborB.LandC.CapitalD.EntrepreneurshipSUBMITarrow_backPREVIOUS
Solution
The government described in the passage is attempting to develop D. Entrepreneurship. This is because it is encouraging businesses to take risks and develop new ideas, which is a key aspect of entrepreneurship. Additionally, by offering to help pay for research into promising industrial technologies, the government is providing a form of capital specifically aimed at fostering innovation, another crucial element of entrepreneurship.
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