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Answer :
Final answer:
A person who organizes and manages a business is known as an entrepreneur. They are responsible for hiring workers, buying resources, and taking on risks to produce goods and services, often starting as a sole proprietorship or evolving into other forms of business. Thus option a is correct.
Explanation:
A person who organizes a business and then runs it is called a entrepreneur. An entrepreneur is someone who hires workers, buys resources, and combines these to produce goods and services. They undertake financial risks to start and manage their business.
In a market economy, the entrepreneur is the individual who spots opportunities and decides to bring an idea to life by establishing a business. This can often start as a sole proprietorship, which is a company organized by one person who is responsible for all aspects of the business, including debts and liabilities as well as profits.
Entrepreneurs are also known as idea men and decision-makers who anticipate market demands and respond with innovation. Successful entrepreneurs carefully calculate risks and weigh them against potential benefits before investing in a project, embracing their role as both strategists and visionaries within the economy.
In contrast, a financial planner advises on personal financial management, a franchiser grants licenses to franchisees to operate businesses under their brand, and a stockholder is an investor owning shares in a company but not necessarily involved in day-to-day operations.
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