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Answer :
Final answer:
The correct answer to the question is that a person who organizes and runs a business is called an entrepreneur. Entrepreneurs play a critical role in identifying market needs and taking risks to create businesses. They are essential to driving change and innovation within the economy.
Explanation:
Understanding the Role of an Entrepreneur
A person who organizes a business and then runs it is called an entrepreneur. Entrepreneurs are key players in a market economy as they identify needs and create businesses to fulfill those needs, often taking financial risks in the process. For instance, when someone starts a retail shop to sell products, they are acting as an entrepreneur by undertaking the project and managing both the operations and resources involved in running the business.
Entrepreneurs are characterized by several traits including being self-starters, innovative, and willing to face risks to achieve their business goals. The term 'entrepreneur' comes from the French word meaning 'one who undertakes,' perfectly capturing the essence of someone who takes on the responsibility of starting and managing a new venture.
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