INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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TRUE
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FALSE
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Either A or B
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None of the above
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Detailed explanation-1: -An economic activity is an activity of providing, making, buying, or selling of commodities or services by people to satisfy their day-to-day needs of life thus entrepreneurship is considered as one.
Detailed explanation-2: -It is what generates the production and the supply of goods and services. The consumption of goods promotes competition and introduction of better products in the market. So consumption encourages production activities, so it is in itself an economic activity.
Detailed explanation-3: -Business is considered an economic activity because it involves buying and selling of goods and services with the aim of earning profits. Since business has a monetary motive involved, it is an economic activity.