Definition Of Land Entrepreneur

Economists have never had a consistent definition of entrepreneur or entrepreneurship.

Definition of land entrepreneur. The factors of production include land labor entrepreneurship and capital. He treated entrepreneur as the fourth factor of production who combines other factors such as land labour and capital. For this entrepreneur collects and coordinates different factors of production such as land labour and capital and pays them rent wages and interest respectively. Hawley contemplated risk taking as the prime characteristic feature of the entrepreneur which was comparable to the elementary agents of production like land labour and capital.

His definition associates entrepreneur with the fijhfcons of coordination organization and supervision. Meaning and definition of entrepreneur an entrepreneur is a person who conceives an idea of establishing a new business enterprise undertakes risks and brings together the land labor equipment materials and then finds some way of raising capital to form a business to produce the product or service. Thus entrepreneur ship is a trait or quality owned by the entrepreneur. The characteristics of an entrepreneur.

Land they say is appropriated from gifts of nature by human labour and entrepreneur is only a special variety of labour. Entrepreneur definition is one who organizes manages and assumes the risks of a business or enterprise. Land development project as defined herein and developed according toplan as a single entity and containing one or more structures and or uses with appurtenant common areas. Land development shall be planned in harmony with the natural run off pattern and along the contours.

Entrepreneur is basically taken from french and first time used by richard cantillon. According to him an entrepreneur combines the land of one the labor of another and the capital of yet another and thus produces a product. It is the entrepreneur who conceives the plan of a business either alone or with the help of partners and puts it into execution. Some economists are of the opinion that basically there are only two factors of production land and labour.

Entrepreneur initiate or start the business or firm. In a market full of uncertainty it is the entrepreneur who can actually help clear up uncertainty as he makes judgments or assumes the risk.