INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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making your own hours
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doing work you enjoy
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acting on your own decisions
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all of the above
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Detailed explanation-1: -Becoming an entrepreneur offers personal and professional freedom, including the chance to manage work-life balance and make decisions about a company’s future. Running a business does come with risks, including those related to market and economic trends, finances and technology.
Detailed explanation-2: -According to Hawley, “profit is the reward of risk taking in a business. During the conduct of any business activity, all other factors of production i.e. land, labor, capital have guaranteed incomes from the entrepreneur. They are least concerned whether the entrepreneur makes the profit or undergoes losses.”
Detailed explanation-3: -Freedom to work. Flexibility in schedule. Getting to learn new things everyday. Financial independence. Boosts self confidence. Provides opportunities for self growth and development. Generating wealth for self as well as business. More items
Detailed explanation-4: -Entrepreneurs provide job opportunities. Entrepreneurs increase competition & boost productivity. Entrepreneurs create new business & new markets. Entrepreneurs add national income. More items