The Role of Entrepreneurship in Economic Growth from "summary" of Economics in One Lesson by Henry Hazlitt
Entrepreneurship plays a crucial role in driving economic growth. Entrepreneurs are the individuals who take the initiative to start new businesses, introduce innovative products or services, and create employment opportunities. They are the risk-takers who are willing to invest their time, money, and resources in pursuit of their business ideas. Entrepreneurs are essential for economic growth because they drive innovation and competition in the market. By introducing new products or services, entrepreneurs can meet the changing demands of consumers and improve the overall quality of goods and services available. This competition helps to drive down prices, in...
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