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Fundamental Concepts and Terminologies — Economics STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsFundamental Concepts and Terminologies2 Marks
Question
What is the difference between entrepreneur and manager?
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Answer

  • The Entrepreneur co-ordinate the factors of production while manager manages the factors of production.
  • Entrepreneur take risk of the business and does not get fixed return, while manager get fir amount.
  • Entrepreneur is the owner of the business while manager is an employee.
  • Return of entrepreneur is profit while return of manager is an employee.
  • Return of entrepreneur is profit while return of manager is salary.

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