Final answer:
Entrepreneurship is a discipline focused on identifying and exploiting opportunities, which is true. It is crucial for economic growth and involves risk-taking in business ventures.
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 to take risks in starting a business, such as establishing a sole proprietorship, a partnership, or a corporation.
It is central to the concept of private enterprise and economic growth, as entrepreneurs are key drivers who initiate the production of goods and services.
They make numerous decisions about their businesses, weigh the potential benefits against the risks, and contribute to the business cycle and Gross Domestic Product (GDP).