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Explain the role and significance of entrepreneurs.

Topic Entrepreneurship Skills
Type Short answer type
Class 10

 

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1 Answer

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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


Study more about Entrepreneurship Skills at Entrepreneurial skills Class 10

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