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Explain the importance of an entrepreneur. - Economic Applications

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Question

Explain the importance of an entrepreneur.

Answer in Brief
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Solution

  1. By establishing production units, entrepreneurs not only invest their own resources but also mobilise public funds through debt, equity.
  2. Entrepreneurs provide employment to job seekers, which is one of the basic goals of economic development.
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Chapter 1: Factors of Production - QUESTION BANK [Page 34]

APPEARS IN

Goyal Brothers Prakashan Economics [English] Class 10 ICSE
Chapter 1 Factors of Production
QUESTION BANK | Q 27. | Page 34
Goyal Brothers Prakashan Economic Applications [English] Class 10 ICSE
Chapter 4 Factors of Production
QUESTION BANK | Q 30. | Page 120
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