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Answer :
Final answer:
An entrepreneur is a person who starts a business by assessing market needs and risks to produce goods or services. The example of opening a gourmet popcorn store illustrates the role of an entrepreneur in identifying a market opportunity. Entrepreneurs like this contribute to the economy by creating innovative products and services while managing associated risks.
Explanation:
Understanding Entrepreneurship
An entrepreneur is defined as a person in a market economy who hires workers and purchases resources to produce goods and services. For instance, when someone opens a gourmet popcorn store in the local mall, they are taking on the role of an entrepreneur. This individual assesses a gap in the market, decides to provide a unique product (gourmet popcorn), and takes the necessary financial risks involved.
Entrepreneurs are often seen as risk takers who innovate and create new business ventures. They contribute to the economy by supplying goods and services that consumers desire, with the hope of earning profits. Other examples of entrepreneurs include those who start bakeries, tech companies, or unique retail shops that cater to specific customer needs.
In summary, an entrepreneur's role is crucial in shaping a market economy, as they move forward with projects that have the potential for success and profit, while also bearing the financial risks associated with unanticipated market changes.
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