INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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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: -Currently, the country with the highest level of entrepreneurial activity, represented by Global Entrepreneurship Index (GEI) is US .
Detailed explanation-3: -Entrepreneurs boost economic growth by introducing innovative technologies, products, and services. Increased competition from entrepreneurs challenges existing firms to become more competitive.
Detailed explanation-4: -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.