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.
Answer (1)
25th Jan, 2024
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.
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