ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Entrepreneur is often aware of the business environment with immense product knowledge, the acceptance of the product or service is known by the feedback of the same, and desire for immediate feedback is not a typical characteristic of an entrepreneur.

Detailed explanation-2: -The correct option is F Risk taking.

Detailed explanation-3: -Not being flexible is not an entrepreneurial leadership characteristic. An entrepreneur is a person who takes financial and other forms of risk in order to attain profit from his business. An entrepreneur needs a team who is dedicated to the goals of the organisation.

Detailed explanation-4: -Answer and Explanation: The correct answer is c. risk avoidance.

Detailed explanation-5: -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.