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If an entrepreneur fulfils a social need while giving employment, what benefit does it show?

Answer and explanation

Correct answer: Social and economic benefit

Meeting a community need is a social benefit, while creating jobs is an economic benefit. Therefore, the correct answer is social and economic benefit. “Only personal profit” is incomplete because the question refers to both social welfare and employment generation. Exam tip: If an enterprise improves public welfare and creates income or jobs, identify it as a socio-economic benefit.

Related tags

Home ScienceEntrepreneurshipSocial BenefitEconomic BenefitEmployment GenerationEntrepreneurship: Definition And CharacteristicsEntrepreneurship Definition And CharacteristicsWorkLivelihood And Career

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