1. Entrepreneurship refers to starting a business to generate a profit while undertaking most of the risks and rewards. An entrepreneur combines resources like capital, labor, and materials to provide goods or services. 2. Entrepreneurship is important for economic growth, innovation, and job creation. It allows people to pursue their career goals independently. 3. Teaching entrepreneurship to high school students helps prepare them for career opportunities, think creatively, and develop skills like critical thinking that are useful for decision making. It also exposes students to real-world business examples.