What is the main difference between an entrepreneur and an employee?
Answer and explanation
Correct answer: An entrepreneur starts a venture and an employee performs an assigned role
An entrepreneur generally identifies an opportunity, organises resources, starts or develops a venture, and bears significant business responsibility and risk. An employee usually works in an established organisation under an agreed role for wages or salary. The distinction is not absolute in every modern workplace, but B, C, and D are clearly incorrect.
Frequently asked questions
What is the correct answer to this question?
An entrepreneur starts a venture and an employee performs an assigned role
Why is this the correct answer?
An entrepreneur generally identifies an opportunity, organises resources, starts or develops a venture, and bears significant business responsibility and risk. An employee usually works in an established organisation under an agreed role for wages or salary. The distinction is not absolute in every modern workplace, but B, C, and D are clearly incorrect.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
