Explain how the cost of production affects the total profit of an entrepreneurship.
Who wants to be a millionaire? How would you go about becoming a millionaire? (Win the lottery; get a great job, etc.) Today we're going to learn one way people can become millionaires, and you can do it too! It has to do with becoming an entrepreneur. Entrepreneurs use their skills and initiative to launch new business ventures. Their goal, usually, is to earn a profit. They are often risk-takers-- people who see opportunity when others do not. Let's see exactly what it takes to become a profitable entrepreneur.