Final answer:
The statement is true. Entrepreneurs indeed risk their assets and time to innovate and bring new products to the market, which if successful can lead to monetary gain and consumer benefits. They carefully evaluate risks and often rely on investors like angel investors and venture capitalists for support.
Step-by-step explanation:
It is true that entrepreneurs risk their wealth, time, and effort to develop for profit an innovative product or way of doing something. Entrepreneurs are integral to economic development as they organize productive resources and provide their own investment to introduce goods or services to the market.
While entrepreneurs are often labeled as risk-takers, successful ones are meticulous with risk assessment, comparing potential risks against anticipated benefits before committing their money. Manifesting their belief in their venture, they also draw upon the support and expertise of angel investors and venture capitalists who advise them and assess their business plans.
If the entrepreneurial venture is successful, it can lead to monetary success for the entrepreneur and the introduction of new or improved products that boost competition and may lower prices for consumers.