The four somewhat overlapping theories of how the entrepreneur is able to earn a profit are: (1)____________; (2)____________; (3)____________;and (4)___________.

Entrepreneur

An individual who, instead of working as an employee, runs a small business and assumes all the risks and rewards of a given business venture.

Earn A Profit

The process of making financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.