ENTREPRENEURSHIP

Detailed explanation-1: -Supply-side economics believes that producers and their willingness to create goods and services set the pace of economic growth while demand-side economics believes that consumers and their demand for goods and services are the key economic drivers.

Detailed explanation-2: -On the supply side, closing gaps mostly involves improving efficiency and/or reducing costs in other ways.

Detailed explanation-3: -Supply-side policies aim to improve productivity and efficiency and thus boost long-run aggregate supply. On the other hand, demand-side policies aim to increase aggregate demand to boost output in the short run. Reducing taxes has a supply-side effect by making it less expensive for firms to operate.

Detailed explanation-4: -Supply-side economics holds that increasing the supply of goods translates to economic growth for a country. In supply-side fiscal policy, tax cuts, lower interest rates, and deregulation help foster increased production.