Question

How does an entrepreneur reduce regional and income disparity?

• A. By hiring more people than required and by paying them more salaries
• B. By providing quality goods and services at affordable prices
• C. By operating in rural and backward areas
• D. By providing large-scale employment to artisans and professionals
  

Answer 1

Answer: (B), (C), (D)

By providing large-scale employment to artisans and professionals


Entrepreneurs promote the development of society by reducing the concentration of income and wealth by providing large-scale employment to artisans, technically qualified persons, and professionals. Entrepreneurs not only promote the development of industries but also remove regional disparities by operating in rural and backward areas. Besides financial gains, entrepreneurs with innovative ideas can provide quality goods and services at lower prices to people.