INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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He stressed the role of the entrepreneur as an innovator who implements change in an economy by introducing new goods or new methods of production.
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Israel Kirzner
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John Stuart Mill
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Joseph A. Schumpeter
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None of the above
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Explanation:
Detailed explanation-1: -Schumpeter stressed the role of the entrepreneur as an innovator who implements change in an economy by introducing new goods or new methods of production. In the Schumpeterian view, the entrepreneur is a disruptive force in an economy.
Detailed explanation-2: -Entrepreneurship’s importance lies in the following: Drives economic growth and creates new job. Encourages innovation by bringing new ideas, products, and services to the market. Contributes to social change by developing products or services that reduce people’s dependence on outdated technologies.
Detailed explanation-3: -According to Schumpeter, innovative entrepreneurs would: Thrive in the market. Not survive and disappear from the market.
There is 1 question to complete.