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Is profit the only motivation for an entrepreneur? Why or why not?

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Question

Is profit the only motivation for an entrepreneur? Why or why not?

Short Answer
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Solution

No, profit is not the only reason that motivates entrepreneurs. As demonstrated by J.R.D. Tata, the desire to serve society, improve people’s lives, and contribute to the nation’s development can also inspire entrepreneurs. Their commitment, passion, and determination can encourage them to work hard and turn their ideas into successful ventures.

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Chapter 7: Factors of Production - Intext Questions [Page 175]

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NCERT Social Science Exploring Society India and Beyond Part 1 [English] Class 8
Chapter 7 Factors of Production
Intext Questions | Q 16. | Page 175
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