Describe entrepreneurship. How is it different than working for someone else? How does entrepreneurship affect you? How does it affect the economy?

It is the study of process involved in identifying a business opportunity and acquiring the necessary resources to start and run the business

~It has created employment

~It has reduced rural-urban migration since some businesses have been set up in Rural areas.

~Saving imports since goods can be locally produced reducing the cost of importing them

~It has raised people's standard of living since one can acquire goods he/she can't produce

~The government can earn there revenue from taxation of the businesses set up by the entrepreneurs

The entrepreneur is the person involved in entrepreneurship.He/she can be the employer of his/her business.Thats what makes it different from being employed/working for someone else.We can say Bill Gates is an entrepreneur since he started Microsoft

years agooo ahaha. but honestly they need to update ! : )