ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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entrepreneurs usually purchase existing businesses or franchise rights.
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small-business owners generally are not interested in expanding their businesses.
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entrepreneurs rarely manage the day-to-day aspects of their businesses.
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small-business owners usually employ between 500 and 1, 000 workers.
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Detailed explanation-1: -Business owners tend to be more focused on the day-to-day operations whereas entrepreneurs tend to focus on what will make their money in the long run. Since business owners are usually less concerned with how they can grow as an entrepreneur, and therefore do not spend time learning about marketing or sales.
Detailed explanation-2: -Entrepreneurs tend to be classified as those who take on high-growth, high-risk innovations while small business owners oversee an established business with an established product and customer base. Successful entrepreneurs are seen as a driving force in the modern economy.
Detailed explanation-3: -entrepreneur are motivated by growth and expansion while small business owners are motivated by sales and profits.
Detailed explanation-4: -Small business is defined as a privately owned corporation, partnership, or sole proprietorship that has fewer employees and less annual revenue than a corporation or regular-sized business.
Detailed explanation-5: -These both come under a business category. An entrepreneur is someone who locates the need of society and tries to meet them with an innovative idea. On the other hand, entrepreneurship refers to the process of establishing a business entity, intending to get profit as a return in the future.