Final answer:
Lifestyle entrepreneurship is when a business is created to align with the entrepreneur's individual lifestyle goals, which distinguishes it from other forms that may focus more on profit maximization.
Step-by-step explanation:
The term entrepreneurship refers to the act of creating and managing a business venture in order to make a profit by taking on financial risks. In the context of the given question, the type of entrepreneurship that involves creating a firm to improve one's income or to offer a product or service is called Lifestyle entrepreneurship. This form of entrepreneurship focuses on aligning business endeavors with the entrepreneur's personal lifestyle goals and interests, rather than solely on the maximization of profits that may be more characteristic of other forms such as corporate entrepreneurship.