Write short answer of the following.
What is the need of an entrepreneur in our society?
An entrepreneur is needed in the society because of the following reasons:
i. Innovation - The entrepreneur provides goods and services to customers by introducing new and innovative techniques of production which facilitate economic activities.
ii. Bears risks - By venturing into the new and uncertain areas, the entrepreneur also bears the risks involved in the project.
iii. Adds to the economic development - By creating employment opportunities in the society, an entrepreneur contributes
towards the economic development of a country.
iv. Market development - The entrepreneurs constantly strive to establish new techniques of productions and products which in turn helps in the market growth and development.
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