ENTREPRENEURSHIP

INTRODUCTION TO ENTREPRENEURSHIP

IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The person who uses available resources to create new goods or services is called
A
entrepreneurship
B
entrepreneur
C
entrepreneural
D
None of the above
Explanation: 

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.

There is 1 question to complete.