ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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-2: -Entrepreneurial resources are defined as the propensity of an individual to behave creatively, act with foresight, use intuition, and be alert to new opportunities.

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. More items