ENTREPRENEURSHIP

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 activity is the enterprising human action in pursuit of the generation of value, through the creation or expansion of economic activity, by identifying and exploiting new products, processes or markets.

Detailed explanation-3: -Innovation. Innovation is considered as the key factor in the concept of entrepreneurship. An entrepreneur adds to the economy in terms of innovation and discrepancy and the degree of these assures a positive outcome.

Detailed explanation-4: -The role that entrepreneurship plays in the economy is entrepreneurs creating their own businesses, which provides a good market for the economy and encourages further growth for other businesses and entrepreneurs. The entrepreneur themselves stands to gain from the success of individual entrepreneurs.