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Why is entrepreneurship the most important factor in economic development?
Wiki User
∙ 11y ago
There is no evidence that that is true.
The evidence is that the most important single factor in economic development is peace. If a war is fought in your country that does more damage to your economy than anything else can overcome.
The second most important factor in development is honesty of government. A kleptocratic, confiscating, bribe-extorting government is worse than anything except war.
The third most important factor is found to be having a court system that quickly, reliably, and cheaply enforces contracts without favoritism even to the wealthy.
The fourth, almost equal to the third, is adequate transport infrastructure that lets commodities be delivered quickly, reliably, and cheaply.
And then there is education, in particular literacy.
Wiki User
∙ 11y ago
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The rule of entrepreneurship in economic development?
Entrepreneurship is a major factor in economic development and growth. Entrepreneurship produces both small businesses and large corporations that provide jobs and fuel the economy with more money.
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There are many economic influences that impact the development and reform in South Africa. One important factor is what businesses may benefit from continued discrimination, mostly by paying certain workers less.
What factor has prevented Myanmar's economic development?
civil and ethnic unrest
Why is economy important to a growing civilization?
Economic Growth is an important factor in reducing poverty and generating the resources necessary for human development and environmental protection spending, as well in technological advances.
What is the most important factor while evaluating countries for investment risks economic or political?
The most important factor is economic and political stability. It is important to review the country's stability over the preceding few years.
The rule of entrepreneurship in economic development?
Entrepreneurship is a major factor in economic development and growth. Entrepreneurship produces both small businesses and large corporations that provide jobs and fuel the economy with more money.
what was originally the main factor in Juneau's economic development?
fishing
How does the economic influence the curriculum development and reform in South Africa?
There are many economic influences that impact the development and reform in South Africa. One important factor is what businesses may benefit from continued discrimination, mostly by paying certain workers less.
What factor has prevented Myanmar's economic development?
civil and ethnic unrest
Why is economy important to a growing civilization?
Economic Growth is an important factor in reducing poverty and generating the resources necessary for human development and environmental protection spending, as well in technological advances.
How important experiences young children a contributing factor for later development?
how important is the experience of young children as a contributing factor of laer development
What has the author Joseph Chary written?
Joseph Chary has written: 'The human factor in socio/economic development' -- subject(s): Economic assistance, Economic development, Economic policy, Social aspects, Social aspects of Economic assistance
What is an important factor in a child's development?
Love from their parents.
What is the most important factor while evaluating countries for investment risks economic or political?
The most important factor is economic and political stability. It is important to review the country's stability over the preceding few years.
What factors impede economic development?
A main critical factor is the lack of cooperation bythe affluent.
What are characteristics of economic development?
Economic development addresses the basic long-term care of its subjects. This generally includes housing, healthcare, employment, transportation, and government reform. It is the revisions for betterment that define a economic development.
Why is the economic efficiency of economies important?
it is major factor in nation's wealth
