ECONOMICS (CBSE/UGC NET)

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ECONOMICS

ENTREPRENEURS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The three primary reasons that people become entrepreneurs and start their own firms are to ____
A
gain prestige, realize financial rewards, and eliminate risk in their lives
B
do what they were “born” to do, be their own boss, and gain prestige
C
take big risks, be their own boss, and do what they were “born” to do
D
be their own boss, pursue their own ideas, and pursue financial rewards
Explanation: 

Detailed explanation-1: -Reason 1: Achievement, Challenge, & Learning. Reason 2: Independence & Autonomy. Reason 3: Income Security and Financial Success. Reason 4: Recognition and Status. Reason 5: Family. Reason 6: Dissatisfaction with Current Work Arrangements. Reason 7: Community and Social Motivation. 27-Jan-2016

Detailed explanation-2: -There are three main types of entrepreneurs: The Creator, The Builder, and The Operator.

Detailed explanation-3: -Importance of Entrepreneurship Drives economic growth and creates new job. Encourages innovation by bringing new ideas, products, and services to the market. Contributes to social change by developing products or services that reduce people’s dependence on outdated technologies.

Detailed explanation-4: -Successful Entrepreneurs are Resilient. Successful Entrepreneurs are Confident. Successful Entrepreneurs are Innovative.

There is 1 question to complete.
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