entrepreneurship basic concept
Understand the Problem
The question is asking for an explanation of the basic concepts of entrepreneurship, which may include definitions, characteristics, and the importance of entrepreneurship in the economy.
Answer
Creating and running a business for profit.
The final answer is Entrepreneurship involves creating and running a business for profit by aggregating capital and labor.
Answer for screen readers
The final answer is Entrepreneurship involves creating and running a business for profit by aggregating capital and labor.
More Information
Entrepreneurship is crucial for economic growth and innovation, but it involves substantial risk. Successful entrepreneurs must balance the use of capital and labor to turn their ideas into a profitable enterprise.
Sources
- What is Entrepreneurship?:10 Key Concepts in Entrepreneurship - saasgenius.com
- What Are the Basic Concepts & Characteristics of Entrepreneurship? - smallbusiness.chron.com
- Concept of Entrepreneurship - BYJU'S - byjus.com
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