OVERVIEW OF ENTREPRENEURSHIP

Question 1

Entrepreneurs drive innovation, create jobs, and contribute to Gross Domestic Product (GDP) growth. By starting new businesses, they stimulate economic activity and introduce new products or services.

Answer 1

1. Economic Growth

Question 2

• Entrepreneurs often identify gaps in the market and develop innovative solutions to address unmet needs.
• This fosters technological advancement and improves the quality of life.

Answer 2

2. Innovation and Problem- Solving

Question 3

Entrepreneurs invest in their local communities, contributing to better infrastructure, education, and overall community well-being.

Answer 3

4. Community Development

Question 4

New businesses are a significant source of employment. Small and medium-sized enterprises (SMEs), often founded by entrepreneurs, employ large portions of the workforce globally.

Answer 4

3. Job Creation

Question 5

Entrepreneurship enriches the marketplace by promoting diversity in goods, services, and business models, which enhances consumer choice and competition.

Answer 5

6. Diversity in the Market Place

Question 5

Entrepreneurship encourages _____________. Entrepreneurs learn to navigate challenges, fostering ___________in both individuals and businesses.

Answer 5

5. Adaptability and Resilience

Question 6

For individuals, entrepreneurship can be a pathway to achieving independence, financial stability, and personal satisfaction. It empowers people to turn their passions into careers.

Answer 6

7. Personal Growth and Fulfillment

Question 7

Entrepreneurs help solve global challenges by addressing sustainability issues, improving healthcare, and advancing technology.

Answer 7

8. Global Impact