Question : It involves introduction of new products, discovery of new market and sources of supply of inputs, technological break thoughts as well as introduction of new organisation forms for doing things in a better way. Which characteristics of entrepreneurship is highlighted here?
Option 1: Systematic activity
Option 2: Lawful and purposeful activity
Option 3: Related to innovation
Option 4: Organisation of production
Correct Answer: Related to innovation
Solution : Entrepreneurship involves a continuous search for new ideas. It involves introduction of new products, discovery of new market and sources of supply of inputs, technological break thoughts as well as introduction of new organisation forms for doing things in a better way. Hence Option C is correct.
Question : It aims to conduct a lawful business. The purpose of entrepreneurship is to create value for personal profit and social gain. Which characteristics of entrepreneurship is highlighted here?
Question : It mobilises factors of production into a productive enterprise or firm. Which characteristics of entrepreneurship is highlighted here?
Question : It has certain skills and other knowledge and competence requirement that can be acquired, learnt and develop, both by formal and vocational training. Which characteristics of entrepreneurship is highlighted here?
Question : It can be defined as systematic, purposeful and creative activity of identifying a need and mobilising resources to achieve it.
Question : Statement 1:The entrepreneurs are born rather than made. Statement 2: Entrepreneurship is systematic step by step and purposeful activity.
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