Murphy has been working at the local bakery for 5 years. He has put in 10 hour days for most of that time, but cannot move
up the ladder" in the company. He decides to quit and start his own business, "Murphy's Muffins
What is the main reason why Murphy and other entrepreneurs would decide to start his own business?
a) laziness
b) profit motive
c) love of baked goods
D) dislike of authority

Question

03-03-2020
Social Studies

contestada

Murphy has been working at the local bakery for 5 years. He has put in 10 hour days for most of that time, but cannot move
up the ladder" in the company. He decides to quit and start his own business, "Murphy's Muffins
What is the main reason why Murphy and other entrepreneurs would decide to start his own business?
a) laziness
b) profit motive
c) love of baked goods
D) dislike of authority

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Answer: Option (B). Profit motive

Explanation: The main reason Murphy and other entrepreneurs would decide to start their own business is for the sole aim of making profits. There are several reasons why entrepreneurs are willing to take a calculated risk and set up a business, is because owners keep the profit as a reward for risk-taking and enterprise.

Murphy and other entrepreneurs would likely start a business because of its income potential, When you start your own business, you have the opportunity to earn an unlimited income based on your own efforts and the success or failure of the business.