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