ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An entrepreneur is responsible for the success of their business
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An entrepreneur’s salary is evaluated based on his ability to complete the tasks assigned to him
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An entrepreneur gets to act as his own boss.
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None of the above
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Detailed explanation-1: -’Entrepreneurs are daydreamers’ is incorrect. An individual that initiates their own business and bears all the major risks while earning the rewards is an entrepreneur. To commence a new business, an individual needs to be innovative, creative, and confident in their abilities to take the necessary risks.
Detailed explanation-2: -Answer and Explanation: The entrepreneur exhibits a pivotal role in the context of business. The entrepreneur generally is the founder of a business who has the primary responsibility of operating the business. The entrepreneur generally invests time and money in business.
Detailed explanation-3: -While, an entrepreneur needs to be innovative while planning and deciding upon business activities as to fulfill the public demand but, it is not his duty to innovate new technology or products. Thus, innovation is not a function to be performed rather an essential characteristic of a successful entrepreneur.