Final answer:
An entrepreneur must be able and willing to invest resources and take calculated risks to produce goods or services, while being innovative and responsive to market demands.
Step-by-step explanation:
To be considered an entrepreneur, one must be able and willing to organize the other productive resources, invest their own resources despite potential risks, and produce a good or service. Entrepreneurship is characterized not just by taking risks, but by the ability to calculate risks very carefully and make informed decisions, weighing the risk against possible benefits before investing in a project. The entrepreneur combines factors of production to create a new product or service that meets consumer demand, aiming for profit. In addition to risk assessment, entrepreneurs are often creative, independent-minded, and have a knack for innovation, seeing opportunities for improving products or services or finding new markets.