Question

In economics, which of the following is not a function of the entrepreneur?

विकल्प

• Risk-taking

• Provision of capital and organization of production

• Innovation

• Day to Day conduct of business

Answer 1

Innovation

Explanation - 

In the day-to-day operation of a business, an entrepreneur performs various functions such as risk taking, capital provisioning, and production organisation. Although innovation is one of an entrepreneur's key characteristics, it is not his primary function. While, an entrepreneur needs to be innovative while planning and deciding upon business activities as to fulfil the public demand but, it is not his duty to innovate ne~ technology or products. Thus, innovation is not a function to be performed rather an essential characteristic of a successful entrepreneur.