Which of the following best describes an entrepreneur? a. a person who manages the business operations of a corporation or partnership. b. a person who invests in a corporation, assuming some risk, in order to make money. c. a person who organizes capital goods and factors of production at his or her own risk to seek profit. d. a person who creates products or improvements for another without financial risk.

C. A person who organizes capital goods and factors of production at his or her own risk to seek profit.

An entrepreneur can be defined as a person who designs, launch and runs a small business in order to get profit at his or her own risk. To achieve this, the entrepreneur needs to organize its capital goods and factors of production, that is to say, the tools he or she will use, type of building to operate in, transportation if necessary, machinery, equipment, natural resources (land, oil, and water) and number and function of the workers.

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