ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -CREATE VALUE THROUGH Stimulation People love to learn, to think and to figure out, and inventive entrepreneurs can create value by engaging the mind through knowledge, intellectual stimulation, curiosity or other forms of cognitive engagement.

Detailed explanation-2: -One of the most important ways is that entrepreneurs have created jobs. By starting their own businesses, they have provided employment for others and helped to grow the economy. They have also made products that are safer, cheaper, and more functional, which has improved the quality of life for everyone.

Detailed explanation-3: -Entrepreneurship Accelerates Economic Growth Entrepreneurs are important to market economies because they can act as the wheels of the economic growth of the country. By creating new products and services, they stimulate new employment, which ultimately results in the acceleration of economic development.

Detailed explanation-4: -An entrepreneur combines the first three of these to manufacture goods or provide services. They typically create a business plan, hire labor, acquire resources and financing, and provide leadership and management for the business. Entrepreneurs commonly face many obstacles when building their companies.