Question

Why are existing businesses not considered as entrepreneurial ventures?

• A. Only new and innovative ideas are deemed entrepreneurial.
• B. Only public sector ventures are deemed entrepreneurial.
• C. Only ventures that do not use factors of production are deemed entrepreneurial.
• D. Only ventures that involve advanced technology are deemed entrepreneurial

Answer 1

The correct option is A Only new and innovative ideas are deemed entrepreneurial.

Entrepreneurs are people who come up with new and innovative ideas from pre-existing businesses. When people take up a new idea or refashion a pre-existing one, they become an entrepreneur. The enterprise they run is referred to as an entrepreneurship.