1. The desires for specific social forces and institutions, including churches, schools, families, and governments are A. needs.
2. Entrepreneurship is the creation or extraction of economic value through the setting up of business entities and assuming financial risks for profits.
3. An entrepreneur engages in entrepreneurship.
4. Creativity is the ability to create value through imagination or ideas.
5. Innovation is the implementation of new ideas to create value.
Entrepreneurship is the combination of creativity and innovation to meet societal needs while earning profits from the effort.
Thus, an entrepreneur can be described as a person who combines creativity with an innovative spirit to set up new profit-making businesses.
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