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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1. Person who doesnot has unique risk bearing function.
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2. Person who just works without an objective.
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3. Person who is defined by high achievement objective and originality in thinking
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4. Person who does not get any reward as the profit from the enterprise which is highly uncertain.
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Detailed explanation-1: -Entrepreneur is a French word probably coined by the economist Jean-Baptiste Say from the word entreprendre, which is usually translated as “undertaker” or “adventurer."1 Say studied Smith’s book and, while agreeing on all points, found that the omission of enterprising businessmen was a serious flaw.
Detailed explanation-2: -Andrew Carnegie, Henry Ford, Oprah Winfrey, Bill Gates, and Larry Page are among the most celebrated American entrepreneurs in history.
Detailed explanation-3: -Joseph Schumpeter describes an entrepreneur as “a person who is willing and able to convert a new idea or invention into a successful innovation".
Detailed explanation-4: -Entrepreneurs who develop, organize, and launch a successful business venture or social entrepreneurship endeavor that has demonstrated success and proven through its operational results to be a sustainable concept.