INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Entrepreneurs are our community leaders.
|
|
|
Entrepreneurs help stabilize and grow the economy with their ability to discover new business.
|
|
|
Entrepreneurs make all their own rules and new products come from them.
|
|
|
Entrepreneurs rely only on themselves and do not hire anyone else
|
Detailed explanation-1: -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-2: -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-3: -The Importance of Entrepreneurship Entrepreneurs play a pivotal role in the growth of the economy. They spur industry innovations, create new market opportunities, and support the development of communities.
Detailed explanation-4: -They convert the latent and idle resources like land, labour and capital into national income and wealth in the form of goods and services. They help increase Net National Product and Per Capita Income in the country.
Detailed explanation-5: -Entrepreneurs provide job opportunities. Entrepreneurs increase competition & boost productivity. Entrepreneurs create new business & new markets. Entrepreneurs add national income. Entrepreneurs introduce innovative technologies.