Question:
An entrepreneur can be defined as an individual who possesses which of the following attributes?
(A). a wholeseller
(B). a risk taker
(C). an innovator
(D). an organisation builder
Choose the correct answer from the options given below:
An entrepreneur can be defined as an individual who possesses which of the following attributes?
(A). a wholeseller
(B). a risk taker
(C). an innovator
(D). an organisation builder
Choose the correct answer from the options given below:
(A). a wholeseller
(B). a risk taker
(C). an innovator
(D). an organisation builder
Choose the correct answer from the options given below:
Show Hint
Focus on the core traits of an entrepreneur: Innovation, Risk-Taking, and Organization Building. These are broad capabilities, whereas "wholesaler" is simply a specific job role.
Updated On: Jul 8, 2026
- (A), (B) and (D) only.
- (B), (C) and (D) only.
- (A), (B), (C) and (D).
- (A), (C) and (D) only.
Show Solution
Verified By Collegedunia
The Correct Option is B
Solution and Explanation
Step 1: Understanding the Concept:
An entrepreneur is an individual who identifies opportunities, mobilizes resources, and establishes a new business venture while taking on the associated financial risks.
Step 2: Detailed Explanation:
Classic economic and sociological theories define several core attributes of an entrepreneur:
- (B) Risk Taker: They take on calculated financial, personal, and social risks to establish and grow a new business venture.
- (C) Innovator: According to Joseph Schumpeter, entrepreneurs drive innovation by introducing new products, production methods, or business strategies.
- (D) Organisation Builder: They organize and manage resources (land, labor, and capital) to build and sustain a functional business structure.
- (A) Wholesaler: This is a specific role within the supply chain, not a defining characteristic of entrepreneurship. Anyone can work as a wholesaler without necessarily being an entrepreneur.
Step 3: Final Answer
The defining attributes of an entrepreneur are (B), (C), and (D), corresponding to option (B).
An entrepreneur is an individual who identifies opportunities, mobilizes resources, and establishes a new business venture while taking on the associated financial risks.
Step 2: Detailed Explanation:
Classic economic and sociological theories define several core attributes of an entrepreneur:
- (B) Risk Taker: They take on calculated financial, personal, and social risks to establish and grow a new business venture.
- (C) Innovator: According to Joseph Schumpeter, entrepreneurs drive innovation by introducing new products, production methods, or business strategies.
- (D) Organisation Builder: They organize and manage resources (land, labor, and capital) to build and sustain a functional business structure.
- (A) Wholesaler: This is a specific role within the supply chain, not a defining characteristic of entrepreneurship. Anyone can work as a wholesaler without necessarily being an entrepreneur.
Step 3: Final Answer
The defining attributes of an entrepreneur are (B), (C), and (D), corresponding to option (B).
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