ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Entrepreneurial resources are individuals who start and direct businesses to produce goods and services to satisfy government needs or wants, while labor resources are people who produce the goods or services.

Detailed explanation-2: -Entrepreneurial resources are defined as the propensity of an individual to behave creatively, act with foresight, use intuition, and be alert to new opportunities.

Detailed explanation-3: -An entrepreneur is an individual who takes an idea or product and creates a business, a process known as entrepreneurship.

Detailed explanation-4: -Producers are people who make or grow goods and provide services. Sometimes they are called workers, and they help us do things.

Detailed explanation-5: -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.