Question : The important indicator of economic development is increase in GDP. As income is generated in the production, entrepreneurship generate income through organisation of production.
Which need for entrepreneurship is highlighted here?

Option 1: Contribution to GDP

Option 2: Capital formation

Option 3: Generation of employees

Option 4: Generation of business opportunities for others.

Question

Question : The important indicator of economic development is increase in GDP. As income is generated in the production, entrepreneurship generate income through organisation of production.
Which need for entrepreneurship is highlighted here?

Option 1: Contribution to GDP

Option 2: Capital formation

Option 3: Generation of employees

Option 4: Generation of business opportunities for others.

Team Careers360 · Accepted Answer

Correct Answer: Contribution to GDP

Solution : Increase in GDP is considered as the most important indicator of economic development. As income is generated in the production, entrepreneurship generate income through organisation of production.
Hence Option A is correct.

Exams

Colleges

Predictors

Resources

Quick links

B.Tech CompanionUse Now Your one-stop Counselling package for JEE Main, JEE Advanced and BITSAT

Exams

Colleges & Courses

Predictors

Resources

Exams

Colleges

Predictors & E-Books

Resources

Engineering Preparation

Medical Preparation

Online Courses

Products

Exams

Colleges

Resources

Exams

Colleges

Predictors & Articles

Resources

Exams

Colleges

Predictors

Resources

NEET CompanionUse NowYour one-stop Counselling package for NEET, AIIMS and JIPMER

Exams

Colleges

Upcoming Events

Resources

Exams

Colleges

Resources

Quick Links

Top Streams

Specializations

Resources

Top Providers

Exams

Colleges

Resources

Diploma Colleges

Exams

Colleges

Resources

Exams

Resources

Top Courses & Careers

Colleges

Exams

Upcoming Events

Resources

Other Exams

Exams

Colleges

Top Countries

Student Visas

Exams

Top Schools

Products & Resources

NCERT Study Material

Related Questions

Question : Entrepreneurship provide livelihood to those who neither have capital to earn interest nor had land to earn rent. Which need for entrepreneurship is highlighted here?

Question : It involves diversification of economic activities across the geography, sector and technological scope which leads to development of any economy. Which need for entrepreneurship is highlighted here?

Question : It involves improving process, reducing wastage, increasing yield and bringing technical progress by altering labour capital ratio. Which need for entrepreneurship is highlighted here?

Question : It mobilises factors of production into a productive enterprise or firm. Which characteristics of entrepreneurship is highlighted here?

Question : It aims to conduct a lawful business. The purpose of entrepreneurship is to create value for personal profit and social gain. Which characteristics of entrepreneurship is highlighted here?

Trending Articles/News

Sign In/Sign Up

Download the Careers360 App on your Android phone

B.Tech CompanionUse Now
Your one-stop Counselling package for JEE Main, JEE Advanced and BITSAT

NEET CompanionUse Now
Your one-stop Counselling package for NEET, AIIMS and JIPMER

Question : Entrepreneurship provide livelihood to those who neither have capital to earn interest nor had land to earn rent.
Which need for entrepreneurship is highlighted here?

Question : It involves diversification of economic activities across the geography, sector and technological scope which leads to development of any economy.
Which need for entrepreneurship is highlighted here?

Question : It involves improving process, reducing wastage, increasing yield and bringing technical progress by altering labour capital ratio.
Which need for entrepreneurship is highlighted here?

Question : It mobilises factors of production into a productive enterprise or firm.
Which characteristics of entrepreneurship is highlighted here?

Question : It aims to conduct a lawful business. The purpose of entrepreneurship is to create value for personal profit and social gain.
Which characteristics of entrepreneurship is highlighted here?