According to the 2010 Economic Freedom Index, starting a new business in Brazil can take up to four times longer than the world average of 35 days. Which economic concept is this related to?

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Social Studies

17 September, 03:38

According to the 2010 Economic Freedom Index, starting a new business in Brazil can take up to four times longer than the world average of 35 days. Which economic concept is this related to?

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Cailyn Bolton · Answer 1

Answer: This concept is "Entrepreneurship".

Explanation:

As we have given that

According to index, starting a new business in Brazil can take up to four times longer than the world average of 35 days.

This is related to "Entrepreneurship" according to economic concept.

As Entrepreneurship means setting up of new business for getting profit while taking financial risks.

Hence, this concept is "Entrepreneurship".