Question

Explain three roles of an entrepreneur to an economy .

Answer 1

1. creation of employment
2. Formation of capital
3. Reducing rural –urban migration through setting up businesses in rural areas
4. Revising standards of living through availing of quality goods and services to citizens and paying them wages and salaries.
5. Saving on imports by producing import substitutes
6. Reducing foreign dominance of the economy
7. promotion of technology
8. Portion of entrepreneurial culture.