Question
Define Entrepreneurship. Explain the role and importance of entrepreneurship in the economic development of a developing country like India.
Answer :
Word Count : 548
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Skip in 10
Entrepreneurship may be defined as the process of identifying opportunities, organizing resources, taking risks, and creating or managing an enterprise with the objective of earning profit and generating value. An entrepreneur is a person who introduces new ideas, products, services, or methods of production and combines land, labour, capital, and technology in an efficient manner. Entrepreneurship is not limited to starting a business; it also includes innovation, problem-solving, leadership, and the ability to adapt to changing market conditions. In a developing country like India, entrepreneurship plays a vital role in economic development. India has a large population, abundant human resources, and growing market demand. Entrepreneurship helps transform these resources into productive activities and contributes significantly
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