Final answer:
Entrepreneurs are known for innovation and taking calculated risks to introduce new or improved products and services to the market.
Step-by-step explanation:
The characteristics often attributed to an entrepreneur include taking calculated risks and being innovative rather than exhibiting risk aversion, avoiding challenges, and procrastination. Entrepreneurs are recognized for their ability to come up with new products or improve existing ones, and for finding more efficient ways to market or deliver these products, like the examples set by Amazon and FedEx. They are crucial figures in the marketplace willing to risk failure in the pursuit of monetary success and the introduction of better products or services to the market.
Successful entrepreneurs carefully calculate their risks and weigh them against potential benefits before committing to an investment, distinguishing themselves from mere risk-takers by adding strategic thinking to their decision-making process. Additionally, they foster economic growth and innovation by combining the factors of production in novel ways to meet changing consumer demands.