ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -In 1943, when Ingvar was 17, his father rewarded him with a small sum of money for doing well in school, despite being dyslexic. With it, Ingvar founded a business named IKEA, an abbreviation for Ingvar Kamprad from Elmtaryd, Agunnaryd, his childhood home.

Detailed explanation-2: -So, the IKEA name was born using Ingvar Kamprad’s initials plus Elmtaryd, the family farm, and Agunnaryd, the farm’s parish in Småland. But the 17-year-old IKEA founder didn’t sell furniture – yet. This tiny shed in Sweden is where Ingvar stored his first lot of IKEA packages.

Detailed explanation-3: -Ingvar Kamprad founded IKEA in 1943 at the age of 17, selling household goods like pens, wallets and picture frames. Småland, the landscape where Ingvar grew up, was stony and rugged. Back then, many of the inhabitants had to get by with small means, making as much as possible with next to nothing.

Detailed explanation-4: -Ingvar Kamprad founded IKEA in 1943 at the age of 17, selling goods like pens and wallets.

Detailed explanation-5: -We’ve come a long way since our early days in Älmhult, Sweden, but IKEA founder Ingvar Kamprad’s dream to create a better life for as many people as possible – whatever the size of their wallet – is and will always be our driving force.