ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A person who creates a new business
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A leader (CEO) who runs the business
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A worker in a factory who gets a raise for working hard
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A student who decides to further their education and get their masters degree
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Detailed explanation-1: -The correct answer is B. An entrepreneur is defined as an individual who creates and funds a new business and continues to bear the risks incurred during the business operations while enjoying the rewards.
Detailed explanation-2: -They typically create a business plan, hire labor, acquire resources and financing, and provide leadership and management for the business. Entrepreneurs commonly face many obstacles when building their companies.
Detailed explanation-3: -An entrepreneur is typically an individual who creates a new business, plays an active role in its operations, assumes most of the financial risk, and enjoys most of its success. The process of creating a new business is known as entrepreneurship and is often driven by new ideas for products or services.
Detailed explanation-4: -Entrepreneurship develops innovation, causes economic growth, creates wealth, and helps develop a community.
Detailed explanation-5: -"An entrepreneur is one who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them."