Question

Judith plans to start a prosthetic company to help physically challenged people avail prosthetics at affordable prices. She researches and develops a cost-effective way of crafting durable prosthetics. In the context of factors of production, the given scenario exemplifies the concept of _____.

Answer 1

Answer:

Entrepreneurship

Explanation:

Based on the information provided within the question it can be said that the given scenario exemplifies the concept of Entrepreneurship. This refers to the  process of finding brand new ways of combining resources to create something new in order to introduce into the market to make profit. Which is what Judith is planning on doing by making a new form of prosthetics that are affordable.