Question

Q 2.Entrepreneurship is not only beneficial for the entrepreneur itself but it is also essential for the ..... of the economy.

Decline
Growth
progress
​

Answer 1

Answer:

Growth

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Answer 2

Entrepreneurship is not only beneficial for the entrepreneur itself but it is also essential for the growth of the economy.

Entrepreneurship:

It is the innovative improvements and developments brought by individual interests of person to the economy of the society. It enables innovation where new products are introduced to the market which aids the economy.

Benefits of entrepreneurship:

• Entrepreneurs can be called as national assets which are appreciated and to be cultivated and motivated. Entrepreneurs can change the way of living and working of the local and on a national basis.

• It is the innovative improvements and developments brought by individual interests of person to the economy of the society. It enables innovation where new products are introduced to the market which aids the economy.
• But higher levels of entrepreneurship can also affect the economy with its surplus of self-employment. The new innovations by the entrepreneurs can improve the economic scale.
• Entrepreneurship also aids in the generation of wealth of the society. Improved products, technology can lead to high earning. This can  improve the national income.

The earnings from entrepreneurship and its gained wealth can be used by the government can be used for improved investment in the capital sector.