ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Entrepreneurs may even create entirely new industries that become the engines of future growth. The new products or services created by entrepreneurs result in new wealth from the new markets. Additionally, higher earnings due to entrepreneurship can help boost national income.
Detailed explanation-2: -Potentially unlimited income If you work hard and the business is a success, you can reward yourself. Being an entrepreneur is high risk, high reward – you could make millions, or you could make nothing at all. But the earning potential is higher than almost any other career.
Detailed explanation-3: -Entrepreneurs are considered serial decision makers because they make lots of decisions every day and are generally wired to be risk takers and aren’t afraid of learning from their mistakes. Decision-making usually comes easier to entrepreneurs and high “D” personalities versus people who tend to be more risk averse.
Detailed explanation-4: -Stress is one of the most significant disadvantages of being an entrepreneur.