Give the three importance of Entrepreneurship to the economy
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- Entrepreneurship is a process of creating wealth by undertaking risk for generating profit.
- Entrepreneurs benefit society in many ways.
- Firstly they solve the world’s problems by analyzing the problems and finding a solution to them.
- They used their innovation and ideas to solve the problems and benefit society.
- Entrepreneurs create job opportunities for various people and thus reduce the problem of unemployment in the country.
- Entrepreneurs also help in community development and enhance is the relationship with other businesses outside the borders.
- They enhance the standard of living of people by producing new and innovative products.
- They also contribute to the national income of the country.
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