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 rise in consumers’ desire for slow-response times
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The shift to an agricultural-based society
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A higher demand for more convenience products
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The reduced need for health care and related services
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Detailed explanation-1: -Entrepreneurs should observe at least four types of trends-economic, social, technological and regulatory-to identify business opportunities and grow their startups. By paying close attention to economic trends, they can identify areas that are ripe for new ideas.
Detailed explanation-2: -Entrepreneurship promotes economic growth, provides access to goods and services, and improves the overall standard of living. Many entrepreneurs also make a positive impact on their communities and improve their well-being by catering to underserved areas and developing environment-friendly products.
Detailed explanation-3: -There are four categories of factors that impact entrepreneurship. These include economic development, culture, technological development and education. A strong and consistent growth of entrepreneurs may be observed in areas having these factors.