ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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People with new ideas that are willing to take risks to start a business or make a product.
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Resources that come from nature
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People who perform labors
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Items that people need to perform their jobs
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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: -Entrepreneurs face multiple risks such as bankruptcy, financial risk, competitive risks, environmental risks, reputational risks, and political and economic risks. Entrepreneurs must plan wisely in terms of budgeting and show investors that they are considering risks by creating a realistic business plan.
Detailed explanation-3: -Generally speaking, entrepreneurs take risks as it allows them to distinguish themselves from their competitors. In the competitive business environment that exists today, those who are willing to risk position themselves as leaders, while others get left behind.
Detailed explanation-4: -Profit is an important incentive that leads entrepreneurs to accept the risks of business failure. Entrepreneurs are individuals what are willing to take risks in order to develop new products and start new businesses. They recognize opportunities, enjoy working for themselves, and accept challenges.
Detailed explanation-5: -Innovative entrepreneurs are people who are constantly coming up with new ideas and inventions. They take these ideas and turn them into business ventures.