ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The main findings suggest a causal chain running from institutions to opportunity entrepreneurship, which is linked to the economic growth of emerging economies.

Detailed explanation-2: -Entrepreneurship improves productivity – entrepreneurship injects the economy with a fresh batch of higher productivity firms, increases competition among existing businesses, and pushes out less-productive ones.

Detailed explanation-3: -The role of entrepreneurship in economic development is substantial. After all, entrepreneurs don’t just build businesses and grow their personal wealth; they also impact the economy by creating new jobs and opportunities, driving innovation, and developing new markets, products, and services.

Detailed explanation-4: -Entrepreneurs create employment opportunities not only for themselves but for others as well. Entrepreneurial activities may influence a country’s economic performance by bringing new products, methods, and production processes to the market and by boosting productivity and competition more broadly.