Question

How has entrepreneurship contribute to economy

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Answer 1

Answer:

Entrepreneurs boost economic growth by introducing innovative technologies, products, and services. Increased competition from entrepreneurs challenges existing firms to become more competitive. ... Entrepreneurial activity raises the productivity of firms and economies.

Answer 2

Answer:

Entrepreneurs create new businesses, and new businesses in turn create jobs, intensify competition, and may even increase productivity through technological change. Highly measured levels of entrepreneurship will thus translate directly into high levels of economic growth.