1. From the early eighteenth century, how was the entrepreneur gradually understood in economic theory?
2. Which economist is credited with linking the entrepreneur to uncertainty and committed costs?
3. How does Jean-Baptiste Say define the entrepreneur's main role?
Evolution of entrepreneur concept
Developed from 18th-century economic thought.
Cantillon — view?
Linked entrepreneur to uncertainty and committed costs.
Say — role?
Defines entrepreneur as combining productive elements.
Smith — view?
Sees entrepreneur organizing work for higher returns.
Entrepreneur vs capitalist — difference?
Initially same; later distinguished by focus on innovation vs capital provision.
Marshall and Leibenstein — function?
Reduce firm inefficiency and improve productivity.
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