Maharashtra State BoardHSC Commerce 12th Board Exam
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Write a Word Or Phrase Or a Term Which Can Substitute the Following: a Function of Creating Something New for an Economic Activity. - Organisation of Commerce and Management

Answer in Brief

Write a word or phrase or a term which can substitute the following:

A function of creating something new for an economic activity.

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Solution

A function of creating something new for an economic activity – Innovation.

Explanation:
Innovation is one of the most important functions of an entrepreneur. Through innovation, the entrepreneur either produces new goods and services or upgrades the existing goods and services as per new trends with a view of creating something new for the society.

Concept: Function of Entrepreneurship Development
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APPEARS IN

Micheal Vaz Organisation of Commerce and Management (OCM) HSC 12th Standard Maharashtra State Board
Chapter 8 Entrepreneurship Development
Write a word or phrase | Q 2 | Page 190
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