The person who combines all factors of production, who takes risk to earn profit is called entrepreneur. Entrepreneur is _______.
The person who combines all factors of production, who takes risk to earn profit is called entrepreneur. Entrepreneur is _______.
Solution
✅ Correct Option: 1
In entrepreneurship terminology, the entrepreneur is the subject (the individual or person who undertakes the activity), entrepreneurship is the process (the act of combining resources and bearing risk), and enterprise is the outcome (the unit/organisation created).
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