Answer:
The answer to the statement: In utilizing the factors of production, entrepeneurs are limited by how much they can produce because.. would be: Because entrepeneurs, as the word indicates, are only just starting from scratch and most of them will have limitations on at least one of the four factors of production, most probably, the financial factor. This limits them in their capacity to grow fast, and presents a real challenge to most newly initiated businesses and businessmen.
Explanation:
An entrepeneur is defined as a person who undertakes the adventure of initiating a business, at his/her own risk, in order to make profit. As such, when starting out fresh in a business, most entrepeneurs will have at least one limitation regarding one of the four factors of production: land, money, labor and other resources. Most commonly, entrepeneurs find limitation in their capital, the amount of money they can initiate with, and others also find that the limitation in capital, limits them in all other factors. This is why entrepeneurship is a real adventure, where the new business person risks what he/she has in order to gain profit from their entrepeneurship.
