Question

When Art Baer read that Singapore would lift its ban on chewing gum, he thought to himself, "There has to be a market there." Baer, 26, knew if he was going to move beyond the daydreaming stage, he had to move fast. After investing $20,000 of his own money into developing a product he called Impress Gum, Baer quit his job, flew to Singapore, talked to the right people in the government, lined up a manufacturer, and hired a marketing firm to promote his gum, which fights tooth decay. Baer is an example of a(n) ______ entrepreneur.

Answer 1

Answer:

Classic

Explanation:

Classic Entrepreneur is a person who allocates available resources to enter the market and make a product that satisfy needs of customer and built strategies for marketing of that product.  

Baer is classic Entrepreneur because he also started to develop a product and invested $20,000 for the development of product. He hired marketing firm to promote his product .

Answer 2

Answer:

The correct answer is letter "B": classic.

Explanation:

Classic entrepreneurs are willing to relocate where they find business opportunities. They tend to request the help of other professionals to establish their business or even hire qualified personnel that could contribute to the operations of their company. Even if their main objective in starting their business is to obtain revenue, they usually provide a good or service that has also societal benefits.

Thus, Art meets the characteristics of classical entrepreneurs.