economic

Subdecks (2)

What drives economic growth according to the study material?
Entrepreneurs who make new products and improve existing ones
What is free enterprise?
The freedom to engage in business without control by the government
How does the entry of a new entrepreneur affect competing businesses?
It creates new challenges for them to improve their products
What are Personal Entrepreneurial Competencies (PECs)?
Characteristics that contribute to the success of an entrepreneur
What is necessary in addition to fondness and skills for a trade to make an enterprise work?
Other qualities that work with those traits
What role do Personal Entrepreneurial Competencies (PECs) play in business?
PECs are essential for the success of an entrepreneur
They represent a set of entrepreneurial characteristics
They must work in conjunction with other traits to be effective