Question

State Whether the Following Statement Is True Or False (Give Reason).

The entrepreneur has a role to play int the development of an economy.

 

 

Options

• True

• False

Answer 1

This statement is True.

(i) Entrepreneurs help in mobilizing idle savings of the public through the issues of industrial securities. This increases the rate of capital formation.

(ii) By converting latent and idle resources like land, labor, and capital into national income and wealth int he forms of goods and services, they help in increasing Net National Product and per capita income in the country.

(iii) Entrepreneurs generate employment opportunities directly and indirectly by being self-employed on the land and selling up large and small business units that offer jobs to millions on the other hand.

(iv) They bring about balanced regional development by setting up the industries in the backward areas and thus help to remove regional disparities in economic development.

(v) They offer goods at low costs as goods are produced on large scale and it helps in improving the standard of living.
Thus, entrepreneurship is essential for national self - reliance.