ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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goods
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service
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idea
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all of these
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Detailed explanation-1: -Answer. Answer: Creative Destruction is the process referred to in by economist Joseph Schumpeter to the process of entrepreneurs developing new products that over time make current products obsolete.
Detailed explanation-2: -Entrepreneurs develop new markets by introducing new and improved products, services, and technology. Thus, they help generate new wealth and add more to the national income. So the government can offer the citizens more national benefits.
Detailed explanation-3: -Ans: (d) Planning Q 29: “ This Function of an entrepreneur is concerned with manpower planning, recruitment, selection and placements of manpower, human resources development, promotion, transfer, appraisal and determination of employee’s remuneration.”. ”.
Detailed explanation-4: -Coasting, opportunity comes to them (or it doesn’t) Conservative (very moderate use of resources, protecting existing resources) Aggressive (proactive, all-in, actively seeks opportunity) Innovator/Revolutionary (attains growth through innovation)