ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -1. The given statement that entrepreneurs promote innovation is true. 2. One of the fundamental features of an entrepreneur is creativity and thinking resourcefully.

Detailed explanation-2: -Entrepreneur vs Innovator Innovators create new products, services, or ways of doing things while entrepreneurs turn those ideas into viable businesses concepts. If you believe you have developed a better way of providing a service to a client, for example, then you’re innovating.

Detailed explanation-3: -Innovation is highly important in entrepreneurship. In the strongly competitive world that we live in, innovative ideas are what will differentiate you from the rest. And innovation keeps a company relevant over a longer period of time.