ENTREPRENEUR

This simple means the risk bearer and the one
who coordinate the other three factors of
production in the best way in other to produce
the required goods and services at a minimum
cost.
FUNCTIONS OF THE ENTREPRENEURS:
1. He bears the risk of production :
The entrepreneur provides the finance for the
enterprise and so he bears the risk of
production.
2. Decides on how much to produce : The
quantity of goods to be produced by the
entrepreneur depends on the available
resources.
3. Decides in where to produce :
The entrepreneur desides on where to site or
locate his factory or shop so that he can
minimize his cost of production.
4. Decides on what to produce :
Entrepreneur desides on the type of goods or
assortment of goods to produce.
5. Decides on how to produce :
Deside on the efficient methods or factors
combination or organization to be adopted in
production, the quantities and types of tools to
be used.
6. Decides on how to market the products.
7. Decides on the size of the firm.
8. Control of labour force.
note :
The reward for the entrepreneur risk bearing is
PROFIT.

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