Question : Statement 1: The term entrepreneur was introduced by French economist Richard Cantillon
Statement 2: The term entrepreneur was first introduced in economics by the early 19th century.
Option 1: Both are true
Option 2: Both are false
Option 3: Statement 1 is true and statement 2 is false.
Option 4: Statement 1 is false and statement 2 is true.

Question

Question : Statement 1: The term entrepreneur was introduced by French economist Richard Cantillon
Statement 2: The term entrepreneur was first introduced in economics by the early 19th century.

Option 1: Both are true

Option 2: Both are false

Option 3: Statement 1 is true and statement 2 is false.

Option 4: Statement 1 is false and statement 2 is true.

Team Careers360 · Accepted Answer

Correct Answer: Statement 1 is true and statement 2 is false.

Solution : The term entrepreneur was first introduced in economics by the early 18th century. It was introduced by a French economist Richard Cantillon.

Hence, option C is correct.

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Question : Statement 1: Richard defined entrepreneur as the agent who buys means of production at certain prices in order to sell the produce at uncertain prices in the future.
Statement 2: Entrepreneurship is a systematic, purposeful activity of identifying a need.

Question : Statement 1: Entrepreneur In response to a received business opportunity mobilise these resources into a productive enterprise or firm
Statement 2: It is generally believe that entrepreneurs take low risk.

Question : Statement 1: Positive economics aims to determine how changes in the price of a good affect its quantity demanded.

Statement 2: Normative economics focuses on analyzing the impact of government policies on consumer behavior.

Question : Statement 1: Positive economics deals with objective analysis and focuses on explaining economic phenomena as they are.

Statement 2: Normative economics involves subjective judgments and aims to prescribe what economic policies should be implemented.