Entrepreneur
ICSE · Class 11 · Entrepreneurship
Most important questions from Entrepreneur for ICSE Class 11 Entrepreneurship board exam 2026. MCQs, short answer, and long answer questions with marks.
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Sample Questions
According to Adam Smith, an entrepreneur mainly acts as a person who does what?
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Transforms demand into supply by organising production activities
Adam Smith described an entrepreneur as an economic agent who transforms demand into supply by organising production and responding to market needs.
Which thinker viewed the entrepreneur as an innovator who introduces new products, methods, markets, or forms of organisation?
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Joseph Schumpeter
Joseph Schumpeter viewed the entrepreneur as an innovator who introduces new products, methods, markets, or forms of organisation.
Which phrase is closely linked with Joseph Schumpeter's idea of entrepreneurship?
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Creative destruction
Schumpeter's idea of creative destruction describes how innovation replaces old products, methods and organisations with new ones.
Who defined an entrepreneur as a person who searches for change, responds to it, and exploits it as an opportunity?
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Peter F. Drucker
Peter F. Drucker defined an entrepreneur as one who searches for change, responds to it, and exploits it as an opportunity.
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