Actually, this is not necessarily true. Extroverts are noticed more than introverts, but not necessarily more loved. While the business world seems to favor the extroverts, but in real life many times the introverts do much better.
Personally tests show me in the middle, with a slight preference to extrovert style. So I am not bias to either side. I can see the different angles of both performance styles.
Extroverts are outwardly looking. They are about socializing and meeting people, and telling them about stuff and learning about them. Extroverts are the life of the party. They want to always be around people and they get their energy from gatherings and social events.
Introverts on the other side are more inwardly looking. They prefer quieter warmer one on one encounters over big gatherings. They prefer their own company and do not mind sitting alone. They actually get tired if they stay in social situations for long periods of times.
One misconception is that people think that extroverts are more liked over introverts. Not true. People relate to charming characters, and these can be extroverts or introverts. There are people who are very social, but no one enjoys their company. Their are people who are quiet, not very social, and people love being around them and enjoy their warm friendly demeanor.
We think of Extroverts as the entrepreneurial types. Actually many great entrepreneurs are introverts. Introverts are deep thinkers and do not worry about rejection or affirmation from others that much. So they can use these things to their advantage as entrepreneurs and be as good if not better than extroverts.
Another misconception is that extroverts are better salespeople. In reality, you can mingle and do well with people even if you are an introvert. It might cost you energy and drain you but you can do it. So both extroverts and introverts can do good in sales.
However, in jobs that require long periods of concentration and working at a workstation, definitely introverts have an advantage. It is tough to be a programmer or a design engineer and be an extrovert.