INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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entrepreneurship
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entrepreneur
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entrepreneural
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None of the above
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Detailed explanation-1: -A person who undertakes the risk of starting a new business venture is called an entrepreneur. An entrepreneur creates a firm to realize their idea, known as entrepreneurship, which aggregates capital and labor in order to produce goods or services for profit.
Detailed explanation-2: -An entrepreneur is an individual who identifies a need in the marketplace and works to fulfill it. The term, historically, has been applied to an individual who starts a business, seeing the ability to fulfill that identified need as an economic opportunity.
Detailed explanation-3: -Entrepreneurial resources are defined as the propensity of an individual to behave creatively, act with foresight, use intuition, and be alert to new opportunities.
Detailed explanation-4: -Incubators and accelerators are programs and organizations that help startups get established and grow into successful businesses. They provide services and advice about important parts of starting a business, such as funding, workspace, advertising and e-commerce. Many connect entrepreneurs with investors and mentors.
Detailed explanation-5: -Innovative entrepreneurs are people who are constantly coming up with new ideas and inventions.