[225-226] .. the entrepreneur as someone who specialises in taking judgemental decisions about the coordination of scarce resources . ...someone.. It is the individual and not the firm that is the basic unit of analysis. ... Judgement is most important in taking decisions where relevant information is very scarce. Key facts may be missing, or the facts may be known but, in the absence of a suitable model, their meaning may be unclear. It is where information is scarce that good judgement is of the greatest value. ... scarce resources confines attention to decisions of an economic kind - such as business decisions. Reference to the coordination rather than the allocation of resources emphasizes the dynamic aspect - coordination changes the allocation in order to improve the situation. ...