Economic Theory Of Entrepreneurship Assignment Help | Economic Theory Of Entrepreneurship Homework Help

Economic Theory of Entrepreneurship

Some economic growth will take place in those cases particularly where economic conditions are favorable. The chief advocates of this theory are G.F. Papanek (1962) and J. R. Harris (1970). They hold the view that the economic incentives are the main drive for the entrepreneurial activities. In some cases, inner derive of the individual have been associated with economic gains. Therefore, these incentives and gains are regarded as sufficient conditions for the emergence of industrial entrepreneurship.

M. Kirzaner (1973) says that when an individual recognizes that the Markey for a product or service has gone out of equilibrium, he may purchase or produce at the prevailing prove and sell to those who are prepared to buy are the highest price. It may be noted that if vigorous entrepreneurship is lacking then various kinds of market imperfections and inefficient economic policies are said to be the main reasons responsible for such lacking.

Economic factors include: (a) market inventive: (b) availability of sufficient capital ; and (c) institutional support (e.g., development banks). The economic entrepreneurship develops at a faster rate and come forward to establish new ventures and bring resources, labour, materials and other assets and put them together to increase their wealth.

For more help in Economic Theory of Entrepreneurship click the button below to submit your homework assignment