ENTREPRENEURSHIP

Detailed explanation-1: -Empirical: He is an entrepreneur who hardly introduces anything revolutionary and follows the principle of the rule of thumb.

Detailed explanation-2: -Richard Cantillon, an 18th-century Irish-French economist, is widely credited with defining entrepreneurship-and entrepreneurs-as an economic force that drives development.

Detailed explanation-3: -Builder, Opportunist, Innovator, and Specialist are 4 types of entrepreneurs. I have seen lists with up to 20 types but these are the more traditional types.

Detailed explanation-4: -Imitative entrepreneurs: Entrepreneurs who only replicate the new inventions created by innovative entrepreneurs are known as “imitative entrepreneurs.” These only copy the technology, procedures, and methodologies invented by others; they don’t actually create any advances of their own.

Detailed explanation-5: -In a study of American Agriculture, Clarence Danhof classifies entrepreneurs into four types-innovative, imitative, Fabian and drone.