Q. Which of the following is the correct definition of the term 'entrepreneur', as used by the OECD?
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(A)
Entrepreneurs are those people who start new businesses with the aim of making a profit.
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(B)
Entrepreneurs are those persons (business owners) who seek to generate value through the creation or expansion of economic activity, by identifying and exploiting new products, processes or markets.
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(C)
Entrepreneurs are those persons who seek to create value by starting new businesses with innovative products and services.
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(D)
Entrepreneurs are those people who seek to create value for local communities, people or customers by starting new ventures which exploit new products, processes or markets.
✅ Correct Answer: (B)
Entrepreneurs are those persons (business owners) who seek to generate value through the creation or expansion of economic activity, by identifying and exploiting new products, processes or markets.