Final answer:
The action of Eduardo opening his own bakery after selling his baked goods to friends and family is an example of Entrepreneurship, which involves starting a business and taking risks.
Step-by-step explanation:
The scenario described where Eduardo decides to open his own bakery after years of selling his baked goods to friends and family best illustrates the concept of Entrepreneurship. This action involves Eduardo's willingness to innovate and take a risk to start his own business, which is at the core of entrepreneurship. There are various forms of business structures that an entrepreneur like Eduardo could choose, including sole proprietorship, which is a business owned and managed by a single individual, or he could opt for a partnership, corporation, and so forth. In this instance, Eduardo’s actions demonstrate the characteristics of an entrepreneur, such as being a self-starter, independent-minded, and hard-working.