Q.Justify the following statement.
Entrepreneurship is the best source for self-employment.
You're viewing a preview — the full solution, concept, methods & PYQ mapping are locked.
Start your 14-day free trial to unlock the full solution →The statement is TRUE. Entrepreneurship lets a person set up an enterprise of their own, become self-reliant and independent, earn income and even create jobs for others, making it the best source of self-employment.
Entrepreneurship is the process of setting up a new business enterprise by identifying an opportunity, arranging resources and bearing the risk of running it. The claim that entrepreneurship is the best source for self-employment is justified by the following points:
1. Being one's own boss: An entrepreneur owns and manages the enterprise independently. There is no dependence on an employer for a job, which is the essence of self-employment.
2. Use of own skills and ideas: Entrepreneurship enables a person to convert their own knowledge, creativity and skills into a productive venture, giving full freedom in decision-making.
3. Independent source of income: Instead of waiting for scarce salaried jobs, an entrepreneur generates income from their own enterprise, achieving economic independence.
…
Unlock everything free for 14 days
- Full step-by-step solutions
- Concept-first explanations
- Methods, shortcuts & mistakes
- PYQ mapping + timed mock tests
Full access for 14 days. No credit card required.