INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
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an individual who initiated the establishment of business enterprise
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entrepreneur
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discovery
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entrepreneurial process
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megaentrepreneurs
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Explanation:
Detailed explanation-1: -An entrepreneur is an individual who takes an idea or product and creates a business, a process known as entrepreneurship.
Detailed explanation-2: -Richard Cantillon, an 18th-century Irish-French economist, is widely credited with defining entrepreneurship-and entrepreneurs-as an economic force that drives development.
Detailed explanation-3: -Adam Smith described entrepreneur as a person who only provides capital without taking active part in the leading role in enterprise. Richard Cantillon considered all persons engaged in economic activity as entrepreneurs.
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