Final answer:
An entrepreneur is a person who founds and manages their own business, taking calculated risks to innovate and introduce new or improved products or services to the market.
Step-by-step explanation:
True: An entrepreneur is indeed a person who opens and manages his or her own business. Entrepreneurs are known for their willingness to organize various productive resources and provide their own investment, often starting as a sole proprietorship. These individuals are known for their willingness to take on financial risks in the pursuit of developing a new or improved product or service. Contrary to the image of reckless gambling, successful entrepreneurs carefully calculate their risks and balance them against potential benefits before committing funds to a new venture. They are the creative force in the economy, combining the factors of production in innovative ways to meet changing consumer demands and to fill specific market niches.