ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Low taxes
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High taxes
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Low regulations
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High regulations
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Detailed explanation-1: -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.
Detailed explanation-2: -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-3: -How do the literacy rates in European countries affect the standard of living in Europe? Literacy qualifies workers for higher paying jobs. If Germany has a 99% and GDP of $45, 900 per capita (per person) and Russia has a literacy rate of 99% and a GDP of $24, 800 per capita.
Detailed explanation-4: -Entrepreneurship Accelerates Economic Growth By creating new products and services, they stimulate new employment, which ultimately results in the acceleration of economic development. So public policy that encourages and supports entrepreneurship should be considered important for economic growth.