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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Interest rate fluctuations
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Increased cultural diversity
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Industry deregulation
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Technological advancements
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Detailed explanation-1: -In 1976, Steven Jobs and Steven Wozniak set out to create Apple, the first personal computer. In less than five years, they had created a whole industry comprised of hundreds of related businesses and thousands of new jobs.
Detailed explanation-2: -41.5% of all entrepreneurs are women, while 58.5% are men. The average age of an employed entrepreneur is 44 years old. The most common ethnicity of entrepreneurs is White (67.1%), followed by Hispanic or Latino (15.4%), Asian (6.4%) and Black or African American (6.3%). In 2021, women earned 88% of what men earned.
Detailed explanation-3: -The characteristics of potential entrepreneurs include demographic characteristics – such as age, gender and entrepreneurial family background and work experience – and personality traits. Much of the entrepreneurship literature is concerned with the relationship between personality traits and business creation.