Entrepreneurs are innovators. They come up with new ideas for products or services.
find it yourself
Workers produce all of the goods and services that producers provide and customers purchase.
It should lead to consumer protection against any form of malpractice by providers of goods and services.
they determine what goods and services are produced
because there starting there own business...
Entrepreneurs play a significant role in contributing to the Gross Domestic Product (GDP) of a country through various means. Small Business Contribution: Small businesses, often led by entrepreneurs, are a vital part of the economy and contribute a substantial portion to the GDP. In the United States, small businesses account for 44 percent of economic activity, demonstrating their substantial contribution to the overall GDP. Job Creation: Entrepreneurship is a pivotal driver of job creation. By starting new businesses, entrepreneurs create new work opportunities, driving innovation and competition that encourages further job creation across various industries . Innovation and Competition: Entrepreneurs identify market needs and develop solutions through their products and services, promoting innovation and competition. This leads to the creation of new and improved products and services, which in turn contribute to economic growth and development . Production of Goods and Services: Entrepreneurs are directly involved in the production of goods and services in the economy, which has a direct impact on employment, revenue generation, and foreign exchange. Their activities affect the overall economy by producing the goods and services that contribute to the GDP . Women Entrepreneurs: Supporting women entrepreneurs can also have a significant impact on the GDP. Research suggests that if women and men participated equally as entrepreneurs, global GDP could rise by approximately 3% to 6%, boosting the global economy by $2.5 trillion to $5 trillion . In summary, entrepreneurs contribute to the GDP of a country through their role in small business activity, job creation, innovation, and the production of goods and services, with the potential for even greater impact when considering the support and inclusion of women entrepreneurs.
the south
The US should play a leader role in adopting green business plans and eco-friendly means of producing goods and services. The US can focus on producing energy efficient cars instead of the guzzlers that are common in the USA.
find it yourself
To coordinate the activities of all the factors of production namely:labour,land,capital,technology,and equipments. To coordinate the activities of all the factors of production namely:labour,land,capital,technology,and equipments.
They use taxes to provide public goods and services.
Workers produce all of the goods and services that producers provide and customers purchase.
Workers produce all of the goods and services that producers provide and customers purchase.
It should lead to consumer protection against any form of malpractice by providers of goods and services.
they determine what goods and services are produced
Entrepreneurs play an increasing role in the keeping the economy stable. They are small on an individual basis, but they have an additive effect when considered in aggregate.
cost accounting play a vital role in marketing businesses because it give the authentic value of the cost of goods and services.