ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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entrepreneurs
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human capital
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per capita gdp
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None of the above
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Detailed explanation-1: -An entrepreneur is an individual who takes the risk to start their own business based on an idea they have or a product they have created while assuming most of the risks and reaping most of the rewards of the business.
Detailed explanation-2: -Leon Walrus, in his papers, The Theory of Social Wealth pointed out that entrepreneur is the coordinator of basic factors of production. He treated ‘entrepreneur’ as the fourth factor of production who combines other factors such as land, labour and capital. In 1882, F. B.
Detailed explanation-3: -Innovative entrepreneurs are people who are constantly coming up with new ideas and inventions.
Detailed explanation-4: -Intrapreneurs. Some entrepreneurs don’t own their own companies but apply their creativity, vision, and risk-taking within a large corporation. Called intrapreneurs, these employees enjoy the freedom to nurture their ideas and develop new products, while their employers provide regular salaries and financial backing.