Which of the following best defines entrepreneurship?

Entrepreneurship is best defined as the act of starting and running a business because it encompasses the entire process of identifying a market need, developing a product or service to fulfill that need, and managing the operations and resources required to bring it to market. Entrepreneurs take on the risks associated with creating new business ventures, and they are often responsible for innovation and driving economic growth. This choice captures the essence of what it means to be an entrepreneur, which involves not just starting a business but also the ongoing management and strategy necessary for its success.

The other options focus on different activities that may not be directly related to the core definition of entrepreneurship. Investing in stocks is more related to finance and investment strategies rather than business creation. Managing a city pertains to public administration and governance, while leading a nonprofit organization involves mission-driven work that can differ significantly from the profit-driven nature of entrepreneurship. Thus, the chosen definition aligns closely with the fundamental characteristics of entrepreneurship.