ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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an economist who studies how the economy works
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a government official who helps regulate the economy
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a bank manager who decides who should receive a loan
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a person who invests his or her resources to start a business
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Detailed explanation-1: -An entrepreneur is someone who has an idea and who works to create a product or service that people will buy, as well as an organization to support that effort. An entrepreneur takes on most of the risk and initiative for their new business, and is often seen as a visionary or innovator.
Detailed explanation-2: -Entrepreneur is a French word probably coined by the economist Jean-Baptiste Say from the word entreprendre, which is usually translated as “undertaker” or “adventurer."1 Say studied Smith’s book and, while agreeing on all points, found that the omission of enterprising businessmen was a serious flaw.
Detailed explanation-3: -An Entrepreneur is an innovator who brings in new ideas to create a successful business venture.
Detailed explanation-4: -According to Schumpeter, an entrepreneur is a person who is willing and able to convert a new idea or invention into a successful innovation.
Detailed explanation-5: -An entrepreneur is an individual who starts and runs a business with limited resources and planning, and is responsible for all the risks and rewards of their business venture. The business idea usually encompasses a new product or service rather than an existing business model.