Explain why generally speaking activities by Dr. Robert Murphy @Mises

Question 83 / 96: Explain why, generally speaking, activities that generate high (monetary) profits will attract more entrepreneurs, while those that cause losses will repel entrepreneurs.

Answer:

Although there are other motivations, generally speaking people

go into business to earn monetary profits. In general, entrepreneurs

will mimic those activities that are generating monetary

profits for other people, and they will stop doing those activities

that are causing losses. By acting in this fashion, entrepreneurs try

to earn as much monetary profit as they can, other things equal.

Sample Partial Credit Answer

If a business keeps losing money, eventually it will go bankrupt.

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https://www.jobilize.com/capitalism-the-market-economy-by-dr-robert-murphy-mises

Capitalism: The Market Economy

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Dr.Robert MurphyAssociated Scholar

Mises Institute

USA

Attribution: Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY

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