ECONOMICS
ENTREPRENEURS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
profit builds wealth and financial independence
|
|
|
profit is the equilibrium quantity on a supply and demand curve
|
|
|
profit is a barrier to international trade
|
|
|
profit is the answer to one of the fundamental question of economics
|
Detailed explanation-1: -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-2: -Entrepreneurship Drives Innovation Growth in productivity raises the material well-being for a society, improves standards of living, and is the primary source of long-term economic prosperity.
Detailed explanation-3: -Pros. Entrepreneurs boost economic growth by introducing innovative technologies, products, and services. Increased competition from entrepreneurs challenges existing firms to become more competitive. Entrepreneurs provide new job opportunities in the short and long term.
Detailed explanation-4: -Entrepreneurs provide job opportunities. Entrepreneurs increase competition & boost productivity. Entrepreneurs create new business & new markets. Entrepreneurs add national income. Entrepreneurs introduce innovative technologies.