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Question
Write a word or phrase or a term which can substitute the following:
A function of creating something new for an economic activity.
Answer in Brief
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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.
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Function of Entrepreneurship Development
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