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Entrepreneurship: Concept and Functions — Entrepreneurship STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEntrepreneurshipEntrepreneurship: Concept and Functions1 Mark
Question
‘An enterprise may be defined as an under taking or adventure involving uncertainty and risk and requiring innovation'. Keeping the given statement in mind, give the distinct features of an enterprise.
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Answer

The distinct features of an enterprise are as follows:
  1. An enterprise consists of people who work together primarily for the purpose of making and/or selling a product or a service.
  2. An enterprise makes use of several inputs like men, material, machine, etc to produce a given output.

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