ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Entrepreneurs who use drones are individuals who vehemently oppose environmental changes as they take place. They used to work in a specialised industry.

Detailed explanation-2: -Drone Entrepreneurs These are entrepreneurs who do not like a change. They are considered as ‘old school’. They want to do business in their own traditional or orthodox methods of production and systems. Such people attach pride and tradition to even outdated methods of doing business.

Detailed explanation-3: -Fabian: The Fabian entrepreneur is timid and cautious. He imitates other innovations only if he is certain that failure to do so may damage business. Drone: His entrepreneurial activity may be restricted to just one or two innovations. He refuses to adopt changes in production even at the risk of reduced returns.

Detailed explanation-4: -Drone Entrepreneurs won’t accept the changes. They will try to run their business in the traditional way and they will even accept loss but not willing to adopt the changes. Example: There is a tobacco making industry which is still making tobaccos entirely by hand. Not willing to use the machines.

Detailed explanation-5: -Innovative entrepreneurs may introduce new technologies while imitating entrepreneurs follow the lead of innovating entrepreneurs. Drone entrepreneurs are not open to any kind of change. The classical entrepreneur is a typical entrepreneur who aims at maximizing benefits.