Entrepreneurship

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Entrepreneurship is defined as the creation or extraction of value, emphasizing change and the inherent risks involved in starting a business. It encompasses a broader spectrum beyond economic gains, often involving the design, launch, and management of new ventures. Entrepreneurs, the individuals behind these businesses, face challenges such as funding shortages, poor decisions, and market demand fluctuations, leading many start-ups to fail. In economics, entrepreneurs play a crucial role in transforming inventions and technologies into viable products and services.