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3 years ago

Discuss any five roles ofentrepreneurship in the economicgrowth of a country

Business

1 answer:

kozerog [31]3 years ago

7 0

Explanation:

1. Entrepreneurs create new businesses

Entrepreneurs are not the only ones who benefit from their enterprises. They give direct and indirect employment for several people in a country. Lack of employment is a big issue in several countries regardless of whether they are developed or not. Through employment, employers are effective in eradicating the chronic problem of unemployment in the country, this in turn creates a path for economic growth of the country. Entrepreneurial growth is seen as a vehicle for generating employment since it promotes both small and large businesses. Some nations that are more developed can be leaders in entrepreneurial activities. Developing countries such as Ghana can benefit from experiences of developed nations such as Japan, USA and UK.

2. Entrepreneurs add to the income of the nation

Entrepreneurs literally produce new wealth. Existing businesses may stay confined to existing markets and may get high returns. New and improved products, services or technology from investors enable the development of new markets and the creation of new wealth. The cascading impact of higher employment and better earning contribute to an improved national revenue because of taxes and higher government expenditure. The government can use these earnings to invest in other sectors that are struggling and for human capital.

2. Entrepreneurs add to the income of the nation

3. Creation of social change

Entrepreneurs offer new goods and services which directly support freedom by lessening dependence on outdated technologies and systems. This in turn improves the quality of life, boosts morale and economic freedom. If people have to stop working and travel far off for their needs, it would greatly affect their ventures, income and productivity. With needs taken care of and resources close by, they are able to concentrate on their jobs without worrying about the basic needs. They devote more time to work, hence bringing about economic development.

4. Economic and community development

Promoting small businesses does not require a lot of capital; meaning they can be started in semi-urban and rural areas. These businesses will create employment in these regions and therefore reduce rural-urban migration. Since a large population of Ghanaians live in the rural areas, the government should put in place measure to encourage entrepreneurship. Small businesses in these areas also use local resources and are convenient to rural and semi-urban areas.

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The adjusted trial balance of Blossom Company at December 31, 2019, includes the following accounts: Common Stock $17,200, Divid

kap26 [50]

Answer:

Explanation:

Before preparing the retained earning statement, first we have to compute the closing balance of retained earning which is shown below:

The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid

= $7,900 + $13,500 - $7,000

= $14,400

The statement of retained earnings is presented in the spreadsheet. Kindly find the attachment below:

4 0

3 years ago

Bank A offers to lend you money at 10 percent compounded monthly, Bank B at 11 percent compounded quarterly, and Bank C at 12 pe

ahrayia [7]

Answer and Explanation:

The computation is given below:

For Bank A,

Effective annual rate is

= (1 + 0.10 ÷ 12)^12 - 1

= 10.47%

For Bank B,

Effective annual rate is

= (1 + 0.11 ÷ 4)^4 - 1

= 11.46%

And,

For Bank C,

Effective annual rate = 12%

Therefore, Bank A is best to borrow at lowest effective annual rate

8 0

3 years ago

A company’s total monthly sales (in millions of dollars) t months from now are given by:

Elina [12.6K]

Answer:

a) $\frac{dS}{dt}=S'(t)= 2(0.5) t +3 = t+3$

b) $S(4) = 0.5*(4^2) +3(4) -5=15 million$

c) For this case we have the total sales $ 15 millions after t =4 months

d) $S'(4) = 4+3 = 7 million$

e) This value represent the increase in the amount of sales in millions after t=4 months

Explanation:

For this case we have the following function for the sales

$S(t) = 0.5 t^2 +3t -5$

Part a

For this case we want to find the derivate of S respect to t and we got:

$\frac{dS}{dt}=S'(t)= 2(0.5) t +3 = t+3$

Part b

For this case we want to find the value of S when t = 4 so if we replace we got:

$S(4) = 0.5*(4^2) +3(4) -5=15 million$

Part c

For this case we have the total sales $ 15 millions after t =4 months

Part d

For this case we just need to replace t=4 in the derivate and we got:

$S'(4) = 4+3 = 7 million$

Part e

This value represent the increase in the amount of sales in millions after t=4 months

3 0

4 years ago

Ellie has been working for an engineering firm and earning an annual salary of $80,000. she decides to open her own engineering

goldenfox [79]

Ellie would have annual expenses of $15000+$3000+$1000+$1200+$35000=$55,200. If she cashed in her $20.000 deposit then her balance owing would be $35,200 so she would have to make at least this much or preferably the $55,200 to break even.,

7 0

4 years ago

The fed can increase the federal funds rate by

Stella [2.4K]

The answer is selling Treasury bills, which decreases bank reserves. The government securities that are used in open market processes are Treasury bills, notes or bonds. If the FOMC needs to grow the money supply in the economy it will acquire securities. On the other hand, if the FOMC wants to decrease the money supply, it will vend its securities.

5 0

3 years ago

Discuss any five roles ofentrepreneurship in the economicgrowth of a country ​

Discuss any five roles ofentrepreneurship in the economicgrowth of a country