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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Trade regulations have very little effect on small-business growth.
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Consumer spending is a primary factor that influences entrepreneurial success.
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Many people start entrepreneurial ventures during times of economic recession.
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Small business start-ups are taxed at a higher rate than multinational companies.
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Detailed explanation-1: -Answer and Explanation: The entrepreneur generally is the founder of a business who has the primary responsibility of operating the business. The entrepreneur generally invests time and money in business.
Detailed explanation-2: -Which of the following is true of the role of the economic environment in the success of entrepreneurial ventures? The economic environment affects the success of entrepreneurial ventures by affecting the supply of capital and prospective opportunities.
Detailed explanation-3: -Small businesses usually deal with known and established products and services, while entrepreneurial ventures focus on new, innovative offerings.
Detailed explanation-4: -Hustler entrepreneurship People who are willing to work hard and put in a constant effort are considered hustler entrepreneurs. As is often the case, they start small and work towards growing a bigger business with hard work rather than capital.