Final answer:
The assertion that entrepreneurship is a field focused on recognizing and capitalizing on opportunities is true. Entrepreneurs take calculated risks to start and manage businesses that drive economic activity and innovation, acting as vital contributors to the business cycle.
Step-by-step explanation:
The statement that entrepreneurship is a discipline that seeks to understand how opportunities are discovered, created, and exploited, by whom, and with what consequences is true. Entrepreneurship involves the willingness and innovation needed to take risks in starting a business. This could be in the form of a sole proprietorship, where the business is owned and managed by a single individual, or a partnership, where it is owned by two or more individuals. There are also corporations, which are owned by shareholders and managed by a board of directors and executives. Entrepreneurs, often seen as "risk-takers", are crucial in driving the business cycle, affecting inflation, Gross Domestic Product (GDP), unemployment, and productivity. They make key production decisions, bring innovation to the marketplace, and their calculated risks can lead to significant economic growth and market benefits.