Question

Define entrepreneur.

Hint:

An entrepreneur starts a business, arranges the resources and bears the risk for profit.

Answer 1

Step 1: Understand the term:
An entrepreneur is a person who starts a business and runs it. The word comes from the French word 'entreprendre', which means to undertake.

Step 2: Write the definition:
An entrepreneur is a person who spots a business opportunity, gathers money, men and material, and sets up an enterprise to earn profit.
He or she also accepts the risk of loss.

Step 3: Main features:
An entrepreneur takes the initiative to start something new.
He or she organises the resources and takes decisions.
He or she bears the risk and enjoys the profit.

Step 4: Example:
A person who opens a small tailoring unit, hires workers and sells clothes in the market is an entrepreneur.

Final Answer:
An entrepreneur is a person who sets up and runs a business, takes risks and earns profit.