Define or explain the following concepts: 1. Entrepreneur

Define or explain the following concepts:

1. Entrepreneur

ANSWER:


Entrepreneur is the person who undertakes the task of production. He organises the various activities, controls the activities related to production and distribution, and also bears the risk of failure of the business. He sells the output in the market and remunerates the factors. For his dare in undertaking the risk of production, he receives profits in return.

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