How an entrepreneur acts as an economic agent?

A.VERIFIED ANSWERfact-checked by tutors

An entrepreneur acts as an economic agent by forming an organisation for commercial purposes by recognizing the potential demand for goods and services and transforming this demand into supply.

Suggested Q&A

GENERAL · CLASS 10

GeneralCLASS 10
Explain the role of an entrepreneur as an innovator and job and wealth generator.
GeneralCLASS 10
The spirit of entrepreneurship helps an individual to grow. Explain this statement in detail.
GeneralCLASS 10
Explain the process of entrepreneurship in detail.
GeneralCLASS 10
Explain the role of entrepreneur as described by Peter Drucker.
GeneralCLASS 10
How does Jean Baptiste Say envisage the role of the entrepreneur?
GeneralCLASS 10
According to a famous thinker Peter Drucker, innovation is a specific instrument of an entrepreneur. Hence he believes that an effective entrepreneur converts a source into a resource. When is a source converted into a resource? Explain with the help if an example.