Entrepreneurship is
A)the financial capital necessary to launch a new business.
B)the talent to develop new products and processes and to organize production to make goods and services available.
C)unskilled labor.
D)the physical capital resources used to produce goods and services.

Question

Quizplus · Accepted Answer

Entrepreneurship involves the ability to identify opportunities, develop ideas for new products or services, organize resources (including financial capital) to bring those ideas to market, and manage the operations of the resulting business. It also includes the ability to take calculated risks and adapt to changing circumstances. While financial capital (A) and physical capital resources (D) are important elements in starting and running a business, entrepreneurship is ultimately about the talent and skills necessary to turn those resources into successful ventures. Unskilled labor (C) is not synonymous with entrepreneurship.

Entrepreneurship Is