Summary

Entrepreneurship is the process of combining other factors of production (land, labour and capital) to produce goods and services.

In entrepreneurship, we have the enterprise; that is the business unit established to render a service or produce goods for consumers. We also have the person who organizes and combines the other factors of production to produce goods and services.

Entrepreneurship brings money to the entrepreneur and also brings comfort to the people who purchase. This is because, services are rendered.