Question

what roles do entrepreneurs play in the economy?
a. make routine pricing decisions
b. innovate
c. purchase capital
d. create market demand e. take risks
f. make decisions

Answer 1

B) Innovate E) Take risks F) Make decisions.

Entrepreneurs decide how to combine factors of production to create new goods and services.

What functions do entrepreneurs play in an economy?

The business leader who is an entrepreneur seeks out ideas and implements them to promote economic development. One of the most crucial factors in a nation's economic progress is entrepreneurship. By making business decisions, the entrepreneur serves as the head of the trigger that ignites economic activity.

He is essential to the growth of a nation's agricultural and service sectors in addition to its industrial sector. The following is a methodical and orderly discussion of the key functions that entrepreneurs play in the growth of an economy.

• Encourages the formation of capital
• Large-Scale Employment Possibilities
• Encourages balanced regional growth
• Reduces Economic Power Concentration
• Creation and Distribution of Wealth
• Rising GNP and per capita income
• Raising the Living Standards
• Encourages the country's export trade
• Creates backward and forward linkages
• Promotes overall development

Learn more about roles of entrepreneurs with the help of the given link:

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