The correct answer is:

1. A, C, D, and E only

Explanation:

A. Lawful and purposeful Activity: Entrepreneurship involves engaging in lawful and purposeful activities. Entrepreneurs operate within the legal framework and often have a clear purpose or mission for their ventures.

C. Innovation: Innovation is a key characteristic of entrepreneurship. Entrepreneurs are often associated with introducing new ideas, products, services, or processes to the market.

D. Systematic Activity: Entrepreneurship involves a systematic approach to business activities. Entrepreneurs plan, organize, and implement their ideas in a structured manner to achieve their objectives.

E. Organisation of production: Entrepreneurs are involved in organizing and managing the production of goods or services. This includes coordinating resources, processes, and people to bring a product or service to the market.

Option B (Low level of risk) is not always true. Entrepreneurship is often associated with risk-taking, and entrepreneurs may face significant uncertainties and challenges. Therefore, option 4 includes the more commonly accepted characteristics of entrepreneurship.