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An Entrepreneur — Entrepreneurship STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEntrepreneurshipAn Entrepreneur4 Marks
Question
Explain the types of business entrepreneurs.
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Answer

Business entrepreneurs develop new goods and services by setting up an enterprise. Business entrepreneurs have two classifications, which are as follows:
  1. Trading Entrepreneurs: They undertake trading activities either in domestic markets or in foreign markets. For this, they need to identify the potential of the market by looking at the market demand and hence, they put many ideas to promote their business. e.g. Big Bazaar.
  2. Industrial Entrepreneurs: They generally manufacture products and serve in the market which has a potential demand in the market. They are the one, who has the ability to transform economic resources and technology into a profitable avenue. e.g. Tata Industries.

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