Write a word or phrase or a term which can substitute the following:
A person who is an innovator who introduces new combinations of means of production.
Solution:
A person who is an innovator who introduces new combinations of means of production. - Entrepreneur
A person who is an innovator who introduces new combinations of means of production. - Entrepreneur
Explanation:
An entrepreneur is an innovator, as he introduces a new combination of means of production. This combination of means of production can be made by introducing new products, new techniques, new markets, new sources of raw materials, etc.
OCM [Organisation of Commerce and Management] Business Studies, XII 12th Standard,
HSC OCM MARCH 2020 BOARD PAPER WITH COMPLETE SOLUTION OMTEX CLASSES
Balbharati Solutions for Organisation of Commerce and Management (OC) 12th Standard HSC Maharashtra State Board
Chapter 1: Principles of Management
Chapter 2: Functions of Management
Chapter 3: Entrepreneurship Development
Chapter 5: Emerging Modes of Business
Chapter 6: Social Responsibilities of Business
Chapter 7: Consumer Protection
An entrepreneur is an innovator, as he introduces a new combination of means of production. This combination of means of production can be made by introducing new products, new techniques, new markets, new sources of raw materials, etc.
OCM [Organisation of Commerce and Management] Business Studies, XII 12th Standard,
HSC OCM MARCH 2020 BOARD PAPER WITH COMPLETE SOLUTION OMTEX CLASSES
Balbharati Solutions for Organisation of Commerce and Management (OC) 12th Standard HSC Maharashtra State Board
Chapter 1: Principles of Management
Chapter 2: Functions of Management
Chapter 3: Entrepreneurship Development
Chapter 5: Emerging Modes of Business
Chapter 6: Social Responsibilities of Business
Chapter 7: Consumer Protection
