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 take risks because they’re necessary to start and grow a business. Some of the risks an entrepreneur might face include: Leaving a full-time job and steady paycheck. Using personal savings with no guarantee of a return on investment.
Detailed explanation-2: -Most entrepreneurs are risk-takers by nature, or at minimum calculated visionaries with a clear plan of action to launch a new product or service to fill a gap in the industry.
Detailed explanation-3: -Entrepreneur is an economic man who tries to maximize his profits by innovations. D) strength of the business idea. Richard Cantillon, an Irish man living in France, was the first who introduced the term ‘entrepreneur’ and his unique risk-bearing function in economics in the early 18th century.