An entrepreneur is a person who initiates an enterprise, taking on the personal risk in pursuit of the rewards of establishing a sustainable, profitable business. […]
What is enterprise?
Enterprise (in business) is the process by which an entrepreneur capitalises on a business opportunity: from startup, to growth and eventually establishing a sustainable business. […]
What is the Tertiary Sector?
The tertiary sector comprises businesses that provide services to the economy, especially for households. Products from the secondary sector feed into the tertiary sector, enabling it to function. […]
What is the Secondary Sector?
The secondary sector comprises businesses that receive raw materials from the primary sector and convert them into value-added products, otherwise known as manufacturing. […]
What is the Primary Sector?
The primary sector comprises businesses that extract raw materials from the earth. This is typically via mining or harvesting. […]
Opportunity Cost
Opportunity cost is the figurative cost incurred when money is invested in a specific opportunity versus other available alternatives. […]