ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Trading Entrepreneurship All the activities related to the trading of an organization are done through such type of entrepreneurs. It serves as middlemen for dealers, wholesalers, manufacturers and the customers. Examples : Paul Tudon Jones, Nick Leeson and John Key etc.

Detailed explanation-2: -Trading entrepreneur is one who undertakes trading activities and is not concerned with the manufacturing work. He identifies potential markets, stimulates demand for his product line and creates a desire and interest among buyers to go in for his product. He is engaged in both domestic and overseas trade.

Detailed explanation-3: -The various functions of entrepreneurship are Innovation and creativity, Risk taking and achievement and organization and management, Catalyst of Economic Development, Overcoming Resistance to Change and Research.

Detailed explanation-4: -The founder of a business to manufacture products is known as a manufacturing entrepreneur. Manufacturing entrepreneurs analyze market needs or customer needs and manufacture products to meet such needs using various resources or technologies.