GENERAL KNOWLEDGE

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: -A single-location restaurant, one grocery shop, or a retail shop to sell your handmade goods would all be an example of small business entrepreneurship. These individuals usually invest their own money and succeed if their business turns a profit, which they live off of.

Detailed explanation-3: -It provides an entry-level job, required for gaining experience and training for unskilled workers. Innovation-It is the hub of innovation that provides new product ventures, market, technology and quality of goods, etc., and increase the standard of living of people.