By: Johnathan McCarson
In economics entrepreneurship combined with land, labor,natural resources and capital can produce profit. Entrepreneurial spirit is characterized by innovation and risk-taking, and is an essential part of a nation's ability to succeed in an ever changing and increasingly competitive global.
-Ambitious leaders who decide how to combine land, labor, and capital resources to create new goods and services.
- Individuals who start new businesses, introduce new products, and improve management techniques.
-Use factor of production to produce new products.