ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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increase unemployment by taking the best jobs for themselves
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create products that change the way people live and conduct business
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have little impact on supply and demand
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all of the above
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Detailed explanation-1: -Entrepreneurs have a role to play in solving problems that existing products and technology have not yet solved. So by producing new products and services or bringing innovation to existing products and services, entrepreneurship has the potential to improve peoples’ lives.
Detailed explanation-2: -Not only do small businesses provide more jobs, they also bring careers and opportunities. Successful small businesses put money back into their local community through paychecks and taxes, which can support the creation of new small businesses and improve local public services.
Detailed explanation-3: -Entrepreneurship is the vehicle for creating new jobs, generating revenue, advancing innovation, enhancing productivity, and improving business models and processes.
Detailed explanation-4: -While entrepreneurs can help with the creation of products and services, their primary goal is to make sure that whatever product is made can be successfully placed on the market. Though these three roles are somewhat different from one another, they do have several characteristics in common.