Assertion: Entrepreneurship development is regarded as a deliberate process of making people aware of entrepreneurship as a career at an early age and creating situations where they may actually make a choice to become entrepreneurs.

Reasoning: Entrepreneurship is regarded as one of the three major factors of production, the other being labour and capital.

Assertion (A) is true but Reasoning (R) is not correct.

The correct answer is option 3- Assertion (A) is true but Reasoning (R) is not correct.

Entrepreneurship is regarded as one of the four major factors of production, the other three being land, labour and capital.