What are the functions of entrepreneur ?

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Q. What are the functions of entrepreneur ?

Tamil Nadu DgeTamil Nadu HSC First Year (DGE) Commerce Board 2022Subjective· 3mImportance★★★★★

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An entrepreneur organises production, takes key business decisions, innovates, bears risk and uncertainty, and coordinates the other factors of production.

The entrepreneur (the organiser) performs these functions:

Initiation and organisation — conceives the business idea and brings together land, labour and capital to start production.
Decision-making — decides what to produce, how to produce (which technique), where and how much to produce.
Innovation — introduces new products, new methods of production, new markets and new sources of raw material (Schumpeter's view). …

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Same / Similar Concept — real previous-year questions on the same or a closely similar concept, not this exact question.

CBSE 2025Set MARCH1 markMCQ
$Q. Which of the following is not a characteristic of land ?$
(a) Heterogeneous
(b) Its limited supply
(c) Gift of Nature
(d) It is mobile
›Reveal solutionSolution
Land is immobile, so 'it is mobile' is not a characteristic of land — the answer is option (d).

Land is one of the four factors of production. Its main characteristics in the Tamil Nadu HSC Class-11 Economics syllabus are:

It is a free gift of nature (not produced by human effort).

Its supply is fixed / limited — the total quantity of land cannot be increased.

It is heterogeneous — no two pieces of land are exactly alike in fertility or location. …
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CBSE 2024Set MARCH1 markMCQ
$Q. The functional relationship between "inputs" and "outputs" is called as ______.$
(a) Savings function
(b) Consumption function
(c) Investment function
(d) Production function
›Reveal solutionSolution

The correct option is (d) Production function: it links inputs to output.

A production function states the maximum output that can be obtained from any given combination of factor inputs (land, labour, capital, organisation), for a given state of technology. Symbolically Q = f(L, K, …). It is a technical, not a monetary, relationship.

…

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CBSE 2022Set MARCH1 markMCQ
$Q. The functional relationship between "inputs" and "outputs" is called as :$
(a) Savings function
(b) Consumption function
(c) Investment function
(d) Production function
›Reveal solutionSolution

The functional relationship between inputs and outputs is called the production function.

The production function states the technical relationship between the factors of production (inputs such as land, labour, capital and organisation) and the resulting output, for a given state of technology. It is written as Q = f(L, K, ...), meaning output Q depends on the inputs used. The savings, consumpt …

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←Previous questionQ7 — State the Production Function.→Next questionQ9 — (a) Elucidate the Laws of Returns to Scale with example. OR (b) Examin…

Q.What are the functions of entrepreneur ?

Concept understanding — Factors of Production and the Production Function

Q.What are the functions of entrepreneur ?

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