INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Belief in the law of small numbers
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Planning fallacy
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Illusion of control
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Perceived risk
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Detailed explanation-1: -An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.
Detailed explanation-2: -Innovative entrepreneurship Innovative entrepreneurs are people who are constantly coming up with new ideas and inventions. They take these ideas and turn them into business ventures.
Detailed explanation-3: -An entrepreneur is someone who starts a new business. Little stores and huge companies both have entrepreneurs behind them.
Detailed explanation-4: -The reality is that there are many ways to get your entrepreneurial start. Thanks to technology, you can build a side hustle relatively quickly, whether you’re selling homemade candles, T-shirts for dogs, or blogging advice. Make money doing any of these things, and you can proudly call yourself an entrepreneur.