Question

Explain the role and significance of entrepreneurs.

Topic	Entrepreneurship Skills
Type	Short answer type
Class	10

 

Answer 1

The role and significance of entrepreneurs are discussed below:-

(i) Organiser of Society’s Productive Resources:- An entrepreneur is the organization of society’s productive resources. He is the person who assembles the unused natural, physical and human resources of the society, combines them properly, establishes effective coordination between them, and makes the economic activities dynamic. 

(ii) Helpful in Capital Formation:- An entrepreneur is helpful in capital formation or we know that increase in the rate of capital formation is quite essential for the economic development of any country. 

(iii) Increase in Employment Opportunities:- An entrepreneur creates maximum employment opportunities in society by way of establishing new industries, developing and expanding the existing industries, and undertaking innovative activities

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Study more about Entrepreneurship Skills at Entrepreneurial skills Class 10