Question

"An entrepreneur plays an important role in the economic development of a country." Do you agree with the statement? Give reasons.

Answer 1

Entrepreneurs are important because they are the ones to execute the duties after creating goods and services. They are the ones who sell these goods and services to make profit. Without entrepreneurs, goods would not be distributed to people. Entrepreneur also contributes towards the development of national economy. He sets up industry in priority areas by the government in its Five Year Plan programmes. He makes available the source of employment to the people. By optimum use of resources, he contributes towards increase in the national income.