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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Entrepreneurship
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50
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Business Plan
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None of the above
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Detailed explanation-1: -The process of starting, organizing, managing, and assuming the responsibility for a business is called capitalism.
Detailed explanation-2: -Essentially, entrepreneurship is the process of developing, organizing, and running a new business to generate profit while taking on financial risk.
Detailed explanation-3: -An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.
Detailed explanation-4: -Entrepreneurship is the process of initiating a business venture, organizing the necessary resources, and assuming the associated risks and rewards.
Detailed explanation-5: -Conduct market research. Market research will tell you if there’s an opportunity to turn your idea into a successful business. Write your business plan. Fund your business. Pick your business location. Choose a business structure. Choose your business name. Register your business. Get federal and state tax IDs. More items