ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1. Entrepreneurship promotes capital formation by mobilizing the idle saving of the public.
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2. It provides immediate large-scale employment. Thus it helps to reduce unemployment in the country.
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3. It provides balanced regional development.
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4. All of the above
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Detailed explanation-1: -Entrepreneurship promotes economic growth, provides access to goods and services, and improves the overall standard of living. Many entrepreneurs also make a positive impact on their communities and improve their well-being by catering to underserved areas and developing environment-friendly products.
Detailed explanation-2: -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-3: -Entrepreneurship creates wealth for the country and also gives rise to many related businesses. The entrepreneurs drive change because of innovation as they develop new products and bring in new technologies that help the economy to grow as a whole.
Detailed explanation-4: -Apart from combining the factor of production, they also introduce new ideas and new combination of factors. They always try to introduce newer and newer technique of production of goods and services. An entrepreneur brings economic development through innovation.
Detailed explanation-5: -Entrepreneurship Improves Productivity. Entrepreneurship Drives Innovation. Entrepreneurship Creates Jobs. Read More.