A _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ person who is always trying to make his/her business better by taking risks and trying new ideas is an entrepreneur.
Show Hint
All entrepreneurs are self-employed, but not all self-employed people are entrepreneurs. Entrepreneurs specifically take risks and innovate to grow their business.
Step 1: Understand the definition of an entrepreneur.
An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. Entrepreneurs are innovators who take risks and implement new ideas to improve their business.
Step 2: Distinguish between different types of employment.
Self-employed: Individuals who work for themselves rather than for an employer. They own their businesses and are responsible for their success or failure.
Wage-employed: Individuals who work for an employer and receive a fixed salary or wage. They do not bear business risks.
Unemployed: Individuals who are not working but are actively seeking employment.
Multiple employed: Individuals who hold more than one job simultaneously.
Step 3: Analysis of each option.
(A) Self-employed: Correct. Entrepreneurs are self-employed individuals who own and operate their businesses. They take risks and innovate to improve their business.
(B) Wage-employed: Incorrect. Wage-employed individuals work for others and do not take business risks or make entrepreneurial decisions.
(C) Unemployed: Incorrect. Unemployed individuals are not engaged in any business or employment.
(D) Multiple employed: Incorrect. This term refers to holding multiple jobs and does not necessarily involve entrepreneurial risk-taking.
Step 4: Conclusion.
An entrepreneur is essentially a self-employed person who takes calculated risks and continuously innovates to improve their business.
Final Answer: (A) Self-employed
Was this answer helpful?
0
0
Top Questions on Entrepreneurship: Concept, Functions and Need
