ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1. they have access to correct resources
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2. They are plain lucky to be at the right place and at the right time.
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3. They keep on trying, trying and are not being distracted by superficial features
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4. They think structurally to identify opportunities by making connections between a technology and a market that may not be obvious.
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Detailed explanation-1: -Entrepreneurs create employment opportunities not only for themselves but for others as well. Entrepreneurial activities may influence a country’s economic performance by bringing new products, methods, and production processes to the market and by boosting productivity and competition more broadly.
Detailed explanation-2: -Entrepreneurs discover opportunities when they search for them in the existing markets. This means that they observe technological, economic, or social trends. They observe the changing environment and events in their professional or daily life. They talk to people in their network.
Detailed explanation-3: -Accept the situation Look at the things you can change, calculate the odds and analyze your chances. Accept the situation the way it is without exaggerating it and making the problem bigger than it actually is. Don’t try to fix the problem, try to transform it and turn it into a source of new possibilities.
Detailed explanation-4: -Entrepreneurs have an insatiable appetite for problem solving. This drive motivates them to find a resolution when a gap in a product or service occurs. They recognize opportunities and take advantage of them.