INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a partnership agreement.
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multi-level marketing,
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licensing
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franchising
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Detailed explanation-1: -Examples of economic services Programs might include job search training, skill training and educational services.
Detailed explanation-2: -Inputs are any resources used to create goods and services. Examples of inputs include labor (workers’ time), fuel, materials, buildings, and equipment.
Detailed explanation-3: -Producers use their income to buy more resources. Those receiving larger incomes are able to buy more goods, services, and resources than those with lower incomes. Resource owners must feel that their incomes are large enough so that they will continue to supply resources.
Detailed explanation-4: -Intermediate goods are products that are used in the production process to make other goods, which are ultimately sold to consumers. The intermediate goods are sold industry-to-industry for resale or to produce other products.