BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Answer: A function of creating something new for an economic activity – Innovation. Explanation: Innovation is one of the most important functions of an entrepreneur.

Detailed explanation-2: -An economic activity takes place when resources such as capital goods, labour, manufacturing techniques or intermediary products are combined to produce specific goods or services. Thus, an economic activity is characterised by an input of resources, a production process and an output of products (goods or services).

Detailed explanation-3: -An economic activity is an activity of providing, making, buying, or selling of commodities or services by people to satisfy their day-to-day needs of life. Economic activities include any activity that deals with the manufacturing, distributing, or utilising of products or services.

Detailed explanation-4: -Controlling is the end function of management where the evaluation of the performance is done in accordance with the plan.

Detailed explanation-5: -Directing is the soul of management function. It is the process of instructing, guiding, communicating, inspiring, motivating, and supervising the employees to achieve the predetermined goals of an organization.