Entrepeneurs Role (CH 4)

Question 1

Economic Growth

Answer 1

Successful entrepreneurial ventures contribute to GDP growth by generating income, increasing demand for goods and services, and promoting competition

Question 2

Allocate Rescources

Answer 2

Entrepreneurs help allocate resources efficiently by channeling capital, labor, and other inputs into ventures that promise the highest returns

Question 3

Job Creation

Answer 3

By establishing and growing businesses, entrepreneurs create employment opportunities, which reduces unemployment and can improve the standard of living in communities

Question 4

Innovation/ Risk taking

Answer 4

Entrepreneurs introduce new products, services, or processes, driving technological progress and improving productivity. They often identify gaps in the market and find creative solutions