Economy, asked by 09950458087, 7 months ago

Give the three importance of Entrepreneurship to the economy

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Answered by xxxxxxx83
29

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Answered by ArunSivaPrakash
9
  • 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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