CSEET · Economic and Business Environment · Entrepreneurship Scenario
Which of the following is a recognised function of an entrepreneur in the economy?
Bearing risk and uncertainty while organising land, labour and capital to produce for the market is a core entrepreneurial function. Setting the repo rate, framing company law and printing currency are tasks of the RBI or government, not entrepreneurs.
- ABearing the risk and uncertainty of organising production for the marketCorrect
- BFixing the repo rate for banks
- CFraming company law
- DPrinting currency notes
Explanation
An entrepreneur organises resources and bears business risk and uncertainty, a classic function. Setting the repo rate is done by the RBI, company law is made by Parliament, and currency printing is by the central bank and government presses.
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