Final answer:
The process described is known as entrepreneurship, which involves creating new products or business processes while assuming significant economic risk for potential reward. The correct option is B. Entrepreneurship
Step-by-step explanation:
The process in which change agents create new products or processes at significant economic risk is known as entrepreneurship. This encompasses the willingness to innovate and take on the challenge of starting a new business or enhancing an existing one. An entrepreneur is a person who identifies an opportunity in the market, often involving innovation, and then decides to take the financial, emotional, and social risks associated with turning their idea into reality. They might create a singular product or develop an entire business model, such as how Amazon revolutionized online shopping or how FedEx changed the delivery service industry. Successful entrepreneurs can gain competitive advantages such as a unique product, a well-established brand name, or even creating enough demand to form an oligopoly within their market niche.
The correct option is B. Entrepreneurship