ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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is willing to attempt implementing a business concept and then gives up of it does not meet immediate expectations
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understands the process of developing an idea and does not need to understand what it means to bring that idea to a viable business concept
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knows that the concept he is develop will result in a profitable business
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creates a new business concept for the purpose of achieving profit and growth by assembling the necessary resources to capitalize on identified opportunities
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Detailed explanation-1: -"An entrepreneur is one who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them."
Detailed explanation-2: -Jean-Baptiste Say pointed out in his own writings that it was entrepreneurs who sought out inefficient uses of resources and capital and moved them into more productive, higher yield areas. Simply put, entrepreneurs seek opportunities for profit and, by doing so, create new markets and fresh opportunities.
Detailed explanation-3: -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-4: -An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.