Gretchen Heintze
Chapter 1 Review Questions
2. What role does entrepreneurship play in the economy? Who stands to gain from the
success of individual entrepreneurs? How do other parties benefit?
The role of entrepreneurship is very important in our economy because, it allows
more opportunity for people to purchase goods and services. Every time money is
spent purchasing goods and services our economy has the opportunity to increase.
The entrepreneur himself stands to gain from one’s own success. Once an
entrepreneurship becomes successful it has the opportunity to replace the loss of
money time and resources into a profitable business. Parties such as consumers
benefit from a successful entrepreneurship. This allows variety of goods and
services along with job opportunities if needed.
3. When did American business begin to concentrate on customer needs? Why?
American businesses began to concentrate on customers’ needs during the relationship era.
Consumers wanted to get the most for their money when it came to purchasing goods and
service. With more business available the variety in products became greater. Consumers no
