Provide an explanation an economist might give showing why each statement is true: - Entrepreneurs are important to the production of goods and services
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- Why is Entrepreneurship is very important in our economy?Which of the following word is not related to entrepreneurship? a. Innovation b. Creativity c. Needs and wants d. None of the optionsWhat role do these entrepreneurial competencies play in the success of the entrepreneur as well as the success of the business?
- What are the benefits of having technology and entrepreneurship in our modern world?Discuss the importance of entrepreneurship and innovation as well as describe their differences, Provide examples.what is the difference between entrepreneurial idea and opportunity? how are good ideas generated and what is the role of passion in converting ideas opportunities?
- How do you view entrepreneurship in terms of its importance and roles in our economy?Entrepreneurship is becoming the driving force behind many economies in the world and most economies support it. Explain why entrepreneurship is important to this economy.what is the relationship of entrepreneurship and soci-economics? what are their benefits?
- Describe some of the powerful economic forces that are creating global expansion of entrepreneurship."Innovation by the Entrepreneur" argued Schumpeter, leads to gales of "creative destruction" as innovations cause old inventories, ideas, technologies, skills, and equipment to become obsolete. The question is not "how capitalism administers existing structures,…[but] how it creates and destroys them." This creative destruction, he believed, causes continuous progress and improves the standards of living for everyone." Joseph Alois Schumpeter, 1883-1950Links to an external site. In terms a little more modern than Shumpater's, Dr. Abhijeett Desai explains that the predominant form of innovation can look disruptive, but is, in fact, transformational innovation. Explore Dr. Desai's thinking in Transformative Innovations vs. Disruptive InnovationLinks to an external site..Why is entrepreneurship considered a factor of production?