Question

Explain the concept of entrepreneurship development.​

Answer 1

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★ Concept of Entrepreneurship Development

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⟹ Entrepreneurship is the process of setting up one's own business as distinct pursuing any another economic activity, be it employment or practising some profession.

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❏ The person who set up his business is called an entrepreneur.

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Entrepreneurship besides providing self employment to the entrepreneur is responsible to a great extent for creation and expansion of opportunities for the other two economic activities, that is, employment and profession.

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$\tiny{\boxed{\bf{Entrepreneur}}} \dashrightarrow {\boxed{\bf{Entrepreneurship}}} \dashrightarrow {\boxed{\bf{Enterprise}}}$

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➲ Entrepreneurship becomes crucial for overall economic development of a nation.

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