ECONOMICS (CBSE/UGC NET)

ECONOMICS

ENTREPRENEURS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which is the correct definition for entrepreneur?
A
Someone who works under a company
B
Someone who took a leap of faith into making their own job
C
Either A or B
D
None of the above
Explanation: 

Detailed explanation-1: -A common characteristic of successful entrepreneurs is a deeply held belief, call it faith, that they will achieve business utopia, no matter what the cost, energy, time or sacrifice.

Detailed explanation-2: -An entrepreneur is someone who has an idea and who works to create a product or service that people will buy, as well as an organization to support that effort. An entrepreneur takes on most of the risk and initiative for their new business, and is often seen as a visionary or innovator.

Detailed explanation-3: -Entrepreneurs are those persons (business owners) who seek to generate value, through the creation or expansion of economic activity, by identifying and exploiting new products, processes or markets.

Detailed explanation-4: -Entrepreneurship is the ability and readiness to develop, organize and run a business enterprise, along with any of its uncertainties in order to make a profit. The most prominent example of entrepreneurship is the starting of new businesses.

There is 1 question to complete.