The process of utilizing resources to create goods and services by assuming risk to satisfy consumers needs is known as:

CHARACTERISTICS OF AN ENTREPRENEUR

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The process of utilizing resources to create goods and services by assuming risk to satisfy consumers’ needs is known as:

A	Entrepreneur
B	Business
C	Entrepreneurship
D	Production

Explanation:

Detailed explanation-1: -Entrepreneurship is the creation or extraction of economic value. With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values than simply economic ones.

Detailed explanation-2: -During this course we will define entrepreneurship as: The process of identifying business opportunities, allocating resources, and taking risks to produce goods and services of value, through creative and innovative processes, to satisfy unmet consumer demands.

Detailed explanation-3: -It is useful to break the entrepreneurial process into five phases: idea generation, opportunity evaluation, planning, company formation/launch and growth.

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

There is 1 question to complete.

ENTREPRENEURSHIP

INTRODUCTION TO ENTREPRENEURSHIP

CHARACTERISTICS OF AN ENTREPRENEUR