INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Change how the unit is defined
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Decrease the monthly fixed expenses for the business
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Increase the selling price
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Decrease the variable expenses per unit
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Detailed explanation-1: -There are four key areas that can help drive profitability. These are reducing costs, increasing turnover, increasing productivity, and increasing efficiency. You can also expand into new market sectors, or develop new products or services.
Detailed explanation-2: -Answer: The statement that is not true for entrepreneurs is (c) They do not create jobs. Explanation: Entrepreneurs are individuals who create and operate their own businesses or startups, taking on financial risks in the pursuit of profits and innovation.
Detailed explanation-3: -Along with producing new business ideas and thinking out of the box, entrepreneurs also promote research and development. They cultivate their ideas, shape them into a new form, and turn them into a successful business endeavor.
Detailed explanation-4: -Contributes towards research and development system is not the importance of an entrepreneur.