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Risk Uncertainty and Profit by Frank H.Knight
Risk Uncertainty and Profit by Frank H.Knight
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Knight’s groundbreaking study of the role of the entrepreneur in economic life.
Frank H. Knight
Frank Knight went from a farming childhood in Illinois to teaching at the University of…
Knight’s groundbreaking study of the role of the entrepreneur in economic life….
Frank Knight went from a farming childhood in Illinois to teaching at the University of Chicago, where he influenced many modern economists, including Nobel Laureate James Buchanan. His works on risk and uncertainty created a foundation for economic theory while repeatedly drawing on evidence and the everyday experiences of business owners, families, and ethical considerations. [The image comes from “The Warren J. Samuels Portrait Collection at Duke University.”]
Business online course
Information about business:
Business is the activity of making one’s living or making money by producing or buying and selling products (such as goods and services).
[need quotation to verify] Simply put, it is “any activity or enterprise entered into for profit.
It does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors.”
Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business.
If the business acquires debts, the creditors can go after the owner’s personal possessions.
A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.
Salepage : Risk Uncertainty and Profit by Frank H.Knight
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