Q.Entrepreneurs undertake

Entrepreneurship is a risk-bearing activity, but the risk an entrepreneur takes is not reckless — it is weighed and controlled, like a trained trapeze artist who appears daring but is in fact relying on skill.

Although entrepreneurs are popularly believed to take high risks, in practice they take calculated (moderate) risks. Before quitting a secure job to start a venture, an entrepreneur assesses whether a similar level of income can be earned, and takes every step within control to reduce the risk. To an onlooker this may look like a 'high' risk, but the entrepreneur has actually taken a calculated one — which is why option (d) is more complete and correct than option (b).