Question

Identify which of the following statement is true.
(W) Leibenstein claims that the dominant, necessary characteristics of entrepreneurs is that they are gap - fillers.
(X) Kirzner suggests that the process of innovation is actually of spontaneous "undeliberate learning".
(Y) Knight claims that an entrepreneur will be able to bear the risk of a new venture if he believes that there is a significant chance of profits.
(Z) Marshall, however, implies that people can be taught to acquire the abilities that are necessary to be an entrepreneur.
Select the correct answer from the options given below -

• A. (W) & (X)
• B. (Y) & (Z)
• C. (W), (X) & (Z)
• D. (W), (X), (Y) & (Z)

Answer 1

The correct option is D (W), (X), (Y) & (Z)

All the statements regarding an entrepreneur are true. These statements represent the various characteristics of an entrepreneur.

Marshall stated that people can be taught to acquire the abilities that are necessary to be an entrepreneur by providing them with proper training and skills.

Knight claims that an entrepreneur will be able to bear the risk of a new venture if he believes that there is a significant chance of profits. Every entrepreneur has to bear some risk for achieving some profits.

Leibenstein claims that the dominant, necessary characteristics of entrepreneurs is taht they are gap fillers.