ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Build a business organically or through acquisition and then monetize the value of the business you have created by transitioning ownership/selling the business in whole or part.

Detailed explanation-2: -Entrepreneurs develop new markets by introducing new and improved products, services, and technology. Thus, they help generate new wealth and add more to the national income.

Detailed explanation-3: -An entrepreneur is someone who starts or owns a business. Whether it’s in farming, retail, manufacturing or in the service sector, entrepreneurs are businesspeople who find their success by taking risks. In their pursuits, they often become disruptors in established industries.

Detailed explanation-4: -Coasting, opportunity comes to them (or it doesn’t) Conservative (very moderate use of resources, protecting existing resources) Aggressive (proactive, all-in, actively seeks opportunity) Innovator/Revolutionary (attains growth through innovation)