GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To preserve natural resources
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To create jobs
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To generate wealth
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to take big risks
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Detailed explanation-1: -The role of entrepreneurship in economic development is substantial. After all, entrepreneurs don’t just build businesses and grow their personal wealth; they also impact the economy by creating new jobs and opportunities, driving innovation, and developing new markets, products, and services.
Detailed explanation-2: -It’s the vessel of creation and progress. Entrepreneurs are the makers that create new value and distribute it across society. They create a balance between makers and takers. If we look at things from a perspective of individualism we conclude a startup is about two founders and a bunch of people making money.
Detailed explanation-3: -Sharing of Wealth: As entrepreneurs grow their business, the people working for them and in related businesses also grow. Lower Price of Products: As more entrepreneurs sell the same product, the price of the product goes down.