INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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False
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True
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Either A or B
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None of the above
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Detailed explanation-1: -According to Natheal H. Leff: Entrepreneurship is the capacity for innovation investment and expansion in new markets product and techniques. Webster highlights entrepreneurship as economic venture organizing and risk taking capabilities.
Detailed explanation-2: -In the words of Nathaniel H Left, entrepreneurship is the capacity of innovation, investment, and expansion in new markets, products, and techniques. Entrepreneurship is a process of searching for new ideas and exploiting them into gainful opportunities by accepting the risk and uncertainty.
Detailed explanation-3: -Origin-Is the capacity for innovation, investment and expansion in new markets, products and-Studocu. Rubin’s Pathology (Raphael Rubin; David S.
Detailed explanation-4: -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-5: -Innovation is the process of creating something new. Entrepreneurship identifies the opportunities in great innovations and creates opportunity, adds value, and keeps the value improving over a period of time.