Role And Impact Of Entrepreneurship

Question 1

Economic impact of entrepreneurship

Answer 1

1. Job Creation
   Entrepreneurs start businesses that need workers. This helps reduce unemployment by giving people jobs.
2. GDP Growth
   When new businesses produce and sell goods or services, they help the economy grow. This adds to the country’s income (GDP).
3. Wealth Generation
   Entrepreneurs make money for themselves, their employees, and sometimes investors. This helps more people earn and build wealth.

Question 2

Social impact of entrepreneurship

Answer 2

4. Solving Social Issues
   Entrepreneurs can create businesses that solve problems in society — like poor healthcare, limited education, or hunger.
5. Reduces Poverty
   By providing jobs, income, and solutions to social problems, entrepreneurship helps lift people out of poverty.
6. Drives Innovation
   Entrepreneurs often bring new ideas, products, or technologies that improve how things are done in society and business.

Question 3

Myths of entrepreneurship

Answer 3

1- All entrepreneurs are rich

2- entrepreneurs are born not made

3- you need a lot of money to start

4- entrepreneurs

5- it’s all about money

6- entrepreneurs take big risks: most are calculated