ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Traditionally, entrepreneurship is categorized into four main types: small businesses, scalable startups, large companies and social entrepreneurs. These models cover the fundamentals of starting a business and focus more on the company itself, rather than the qualities of the entrepreneur.

Detailed explanation-2: -Entrepreneurship is the process of bringing something new in to existence whether its a business, idea, process or product. Bringing something new means innovation. Entrepreneurship is the incubator of the innovation. Innovation means bringing in to existence something new may be a product, service, idea or solution.

Detailed explanation-3: -In most cases, an inventor isn’t trying to place this invention on the market. On the other hand, an entrepreneur is someone who focuses almost exclusively on trying to take a product and fit it into a market wherein it can sell to customers or clients.

Detailed explanation-4: -small business. scalable startups. large company or intrapreneurship. social entrepreneurship. 07-Apr-2022