INTRODUCTION TO ENTREPRENEURSHIP
CHARACTERISTICS OF AN ENTREPRENEUR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Product-process innovation
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Increased tax revenues
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Unemployment
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Social betterment
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Detailed explanation-1: -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-2: -Importance of Entrepreneurship Drives economic growth and creates new job. Encourages innovation by bringing new ideas, products, and services to the market. Contributes to social change by developing products or services that reduce people’s dependence on outdated technologies.
Detailed explanation-3: -So, there is a very important role for entrepreneurs to spark economic development by starting new businesses, creating jobs, and contributing to improvement in various key goals such as GDP, exports, standard of living, skills development and community development.
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.