Advertisements
Advertisements
Questions
Discuss the decision-making function of an entrepreneur.
Most of the functions of an entrepreneur are performed by paid professionals. With a suitable example, explain the following function performed by an entrepreneur:
Decision Making
Solution
Decision-making is an important function of an entrepreneur. He has to take several decisions regarding his business. These decisions may be regarding the following:
- Selection of the commodity to be produced.
- Selection of the design and quality of the product.
- Selection of the location of the plant.
- Decision regarding the scale of production.
- Selection of techniques of production to be employed in the business (i.e., choice between labour intensive and capital-intensive techniques of production).
APPEARS IN
RELATED QUESTIONS
Why is the income of an entrepreneur residual in nature? Discuss any three functions of an entrepreneur.
The entrepreneur is also called
Students to know about the characteristics of entrepreneur, Set up your classroom like a industry. Some Students are asked to act like a businessman, Do the industries activities. Teacher and students together discuss the entrepreneur and their important of development of society.
Mention any three decision making functions of an entrepreneur.
Which of the following is not a function of an entrepreneur?
______ is a person who starts a business.
State two ways through which an entrepreneur contributes towards economic development.
What is an entrepreneur?
"Entrepreneurs are innovators" said Schumpeter. Explain briefly.
'An entrepreneur is an organiser but an organiser need not be an entrepreneur'. Explain.
