ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An important money maker
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An important engine of growth in the economy
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An important business model
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An important way to increase traffic
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Detailed explanation-1: -New business ventures enable the growth of new markets and the creation of fresh wealth. Most importantly, they create jobs – a national priority –and higher incomes. This leads to greater tax revenues, which can be invested in schools, hospitals, infrastructure & defence.
Detailed explanation-2: -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.
Detailed explanation-3: -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-4: -Entrepreneurial activity, or in other words, the creation of new businesses, is what supports local economies, what supports our country’s GDP, and what helps the stock market continue to grow.
Detailed explanation-5: -Entrepreneurs provide job opportunities. Entrepreneurs increase competition & boost productivity. Entrepreneurs create new business & new markets. Entrepreneurs add national income. Entrepreneurs introduce innovative technologies.