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.

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"What Is Entrepreneurship? Definition and Meaning."BusinessDictionary.com. N.p., n.d. Web. 17 Dec. 2014.